1. Letters to the editor

Letters to the editor

Banking on Iran

By: | Published: February 19, 2016 12:21 AM

Banking on Iran

Apropos of edit “Investing in Iran” (FE, February 18), the lifting fo sanctions against Iran is a good development. India’s presence in Chabahar will offset the Chinese presence in the Pakistani port of Gwadar. It also takes advantage of the centuries-old connection with Iran. Since the Indian government did not take up the project earnestly, Iran leased out port of Chabahar Port to an Iranian company Arya Bandar but Iran did not disclose that it had leased the port. Lack of coordination between Indian ministries is also affecting the important Chabahar project. Iran wanted a loan for developing the rail network from port. In spite of the Indian ministry of external affairs stressing the urgency, the department of financial services and ministry of railways did not move with the desired speed for reasons unknown. As per the deal in May 2015, the contract was supposed to be signed by November last year. If the government does not have the money, it should have roped in the private sector. Iran had hinted that India could lose out on Chabahar and the associated railway line to Zahedan if there was further delayed by India in providing monetary support for them. Now, the Iranian State Railways will undertake the construction. India will be limited to just financing.

MM Gurbaxani, Bengaluru

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. Kuttappan Vijayachandran
    Feb 19, 2016 at 10:01 am
    This has reference to the article, today, by Pradip baijal and DPS Seth on Net Neutrality: The fact that internet rides on the physical network provided by telecom operators is conveniently forgotten or even suppressed in the absurd debates on net-neutrality. Telecom is considered a public utility and a fundamental right in a civic society and so is the internet: The two are inseparable and that was what the UN-ITU has been campaigning for during the last two decades. It is the greed of global monopoly capital to milk the profit possibilities of the rapidly developing IT till it hurts, that is delaying a global consensus on net development with a global perspective under the UN system, to be built on the principle of Net- Sovereignty. Face-book, Google, Microsoft and other global monopolies, under the dictates of the official technology policy of USA, have been opposing and blocking this UN-ITU initiative. However, this position has been voted out by the majority of UN members in the last Doha meet, and UN-ITU is committed to follow-up this majority decision. In the second World Internet Conference held in Wuzhen, China very recently (December 2015), Chinese President Xi-Jimping had delivered the key-note address insisting that, "Internet is to be considered as a common space for mankind, and all countries should jointly build a community of shared destiny in cyberspace and promote connectivity, sharing and co-governance of cyberspace so as help create a better future for the development of mankind." Key UN Officials including the Secretary General and Chief of UN-ITU and as well as the Presidents and Prime Ministers of several Afro-Asian countries including Russia, had partited in this World Conference which had drafted a vision and agenda for world internet development. India was in the thick of a second debate on net-neutrality during this period. It is time for our technology experts and media people to sit together and debate on an internet development perspective that is best suited for our country.

    Go to Top