India to discuss oil deals with Iran
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NEW DELHI: An Indian delegation will visit Iran this week to scout for investment opportunities ahead of an anticipated nuclear deal between the Opec-member and world powers that would soften sanctions against the country, sources privy to the plan said.
Officials from India’s finance and oil ministries and executives from ONGC Videsh and Mangalore Refinery and Petrochemicals Ltd are part of the delegation that will hold meeting with their Iranian counterparts on Saturday, the sources said.
India is Iran’s biggest oil client after China although its imports from Tehran have declined under pressure from western sanctions.
New Delhi’s oil imports from Tehran have eased from 370,000 bpd in 2010-11 to about 220,000 million tonnes in 2014-15 under pressure from international sanctions.
Iran and six world powers reached a framework nuclear agreement on April 2, spurring hopes for a final deal by end-June that would lift economic sanctions imposed by the West against Tehran’s disputed nuclear programme.
Apart from seeking more oil at better terms and other investment opportunities in the energy sector, India will push for development rights at the Farzad-B gas field in Farsi block, the sources said.
Published in Dawn, April 17th, 2015
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Apr 17, 2015 10:57am
Hope we will strike a deal soon. India needs Iran and vice-versa. A stronger Iran is in India's interest.
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Apr 17, 2015 11:07am
In the interest of our economy Pakistan must make deals with Iran for Oil importing. Because we can save heavy transportation cost because Iran is neighbouring county to us. We incurr huge amount on transportation due to importing from far situated countries.
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Apr 17, 2015 11:25am
That's surely going to give sleepless nights to Pakistan
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Apr 17, 2015 11:29am
build the pipeline via pakistan. And pak also needs to think from revenue perspective. peace.
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Apr 17, 2015 11:36am
Our politicians are jumping in Yemen war to reinforce their own friendships with Middle East monarchs rather than taking advantage of Iran-America deal. Pakistan is best placed in a position to take advantage of this deal. They can go for Pak Iran pipeline but our politicians are so selfish for their own personal gains.
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Apr 17, 2015 11:36am
pak joining ksa on yemen will benefit india as iran.will look for some support/allies in the region
pak is losing oppurtunity in the region t could hv close.relation with iran n solve so many of its problems without losing gcc support it acted wisely
anyway.pak loss is india china gain
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Apr 17, 2015 11:36am
Excellent....
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Apr 17, 2015 11:37am
for India,good news are coming from all over the world. Modi is lucky for India
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Apr 17, 2015 11:37am
they are not for oil they are for how iran could trouble on western borders.
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Apr 17, 2015 11:37am
India re-bilding iran after the sanction lifting. I guess they will also have Defence pacts and Arms supply to Iran.
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Apr 17, 2015 11:37am
India is now a days busy shopping around the world. Buying expensive things for money.
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Apr 17, 2015 11:38am
Pakistan must stp this deal
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Apr 17, 2015 11:43am
@Raheem Why Pakistan must stop this deal, would you please explain.
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Apr 17, 2015 11:44am
@Raheem Is Iran part of Pakistan, where recently eight Iranian soldiers were gunned down by Pakistanis.
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Apr 17, 2015 11:46am
@Raheem how ? By buying all that oil ? Paisa hai ???
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Apr 17, 2015 11:46am
@Raheem why you want to stop it ? if you don't like to progress that doesn't means other should not.
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Apr 17, 2015 11:51am
Iran is closer to India than Pakistan.
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Apr 17, 2015 11:53am
Gd step by GOI...expctng a strng rltnshp wth iran...
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Apr 17, 2015 11:59am
India should go ahead. But Pakistan does not seem interested in any deal / engagement with our brotherly and neighbour Iran until and unless, of course, we get a clear cut nod from Saudis. And yet, yet we always claim / boast that national interests are taken care of ahead of any thing else !! Saudis do not want us to go ahead with gas pipe line project with Iran and so we have stopped thinking about this despite having a big...big short fall at our end. Sab se pehle Pakistan ??
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Apr 17, 2015 12:07pm
good good keep it up modi god bless you....
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Apr 17, 2015 12:11pm
Pakistan's Military, Civil and Foreign Affairs Office are doing their best to support India in its influence and control of the regional resources and becoming a World Economic and Military Power.
India cannot dream or expect, want, ask for more from Pakistan. But Pakistan must do more for India. Much more.
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Apr 17, 2015 12:13pm
india iran good friends
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Apr 17, 2015 12:13pm
@Raheem If Pakistan tries to stop it then both India and Iran will teach a good lesson to Pakistan.
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Apr 17, 2015 12:14pm
@Harsh Not entirely true... Iran WANTS to be closer to Pakistan, but Pakistan's government has commitment issues. Iran has built a pipeline all the way to Pakistan's border, yet Pakistan is too impotent to complete the work on its side. What is Iran to do? They need to sell their oil and gas to someone.
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Apr 17, 2015 12:18pm
@Raheem If Pak tries to stop this deal, then Pak will have a pay a heavy price. India has already diplomatically sidelined pakistan and all countries will side with India.
Just wait for one more year. You will hear a different tune from China as well.
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Apr 17, 2015 12:22pm
Regional cooperation is good for lasting peace.
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Apr 17, 2015 12:22pm
stop comparing yourself with India. For how long you will try to mock India's rise. These news will keep on coming each day. Make your country people accountable and you will see change in Pakistan.
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Apr 17, 2015 12:32pm
It is NOT only Iran that is close to India, KSA and GCC countries are also close. Some GCC countries are now looking for opportunities to invest in India. India is deeply involved in trade with Iran and the latter has given her a 10 years lease on the Chahbahar port where India is spending $million on upgrade. Compare it to the development of Gwadar. It is not unlikely that Chahbahar will overshadow Gwadar. Why is this happening? The answer is simple; because of the incompetence of Pak leaders. As for India seeking development rights in Farzad, India hopes to export Iranian gas to Pakistan through the Wagha border as IP gas pipe moves further and further down the horizon. India wisely opted out of it and see the result.
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Apr 17, 2015 12:35pm
This is amazing..
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Apr 17, 2015 12:46pm
@Raheem yes please explain!!
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Apr 17, 2015 12:48pm
After Chabahar Port is complete, India will be able to get access to resources in Iran and the middle east including Afghanistan. This is the beginning, more such deals will follow.
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Apr 17, 2015 12:48pm
@Harsh O really! do you mean iran supported india on regional issues i.e. Kashmir and wars between pakistan and india.
I think that's not the case.
Our government, too, is striving its best to befriend with india.
all such steps are taken for the benefit of the public.
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Apr 17, 2015 12:50pm
@Raheem we don't need to stop the deal. To make it cost effective, the oil supply has to be via iran-Pakistan pipeline. We hold all the approvals for india to progress. It will be the leverage to dictate the UN kashmir plebiscite. Same applies to TAPC oil pipeline, ( Tajikistan, Afghanistan, Pakistan, China).
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Apr 17, 2015 12:51pm
@asif masood
And why not
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Apr 17, 2015 01:09pm
Alliances for WWIII and redrawing of maps, are becoming more and more visible.
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Apr 17, 2015 01:37pm
@Raheem okay! but how you can Raheem??
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Apr 17, 2015 01:43pm
Go ahead. We need good relationship with Iran and oil business is first step to make it concrete.
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Apr 17, 2015 01:51pm
Wall Street article some time ago, Last friend of Mullah, previous fortnight in Tehran Indian Commerce Secretary complete all T& C, formalities of FREE TRADE with India and Iran.. This will be sign after removal of Sanctions.
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Apr 17, 2015 01:57pm
@Whats in a name: Pakistan itself spoiled with their own hands. We are going towards deepsea.
-
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Apr 17, 2015 01:59pm
Good for India. Go for it as we are busy with China.
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Apr 17, 2015 01:59pm
Some how stop this deal. Can we lodge in UN councel stating that, India and Iran-India -Afghastan is having a Defence pact, NAVAL BASES to destabilize Pakistan soil.
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Apr 17, 2015 02:02pm
This deal will change the entire region of Afghastan, Iran. Lot of adverse Impact on Pakistani beyond repairable. We must ask China to influence balancing act on Indo-Iran because India-China strategically business partners, Allies in BRICS,ASEAN,ARAB LEAGUE and UN.
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Apr 17, 2015 02:10pm
If Pakistan got its house in order we in both countries could have enjoyed cheaper oil and in turn great economical prosperity but instead we have to contend with high fuel costs ...Hope some sense prevails in ordinary Pakistanis and inturn help in getting the pipeline from Iran via Pakistan to India.....There are only upsides to this development.....
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Apr 17, 2015 02:13pm
@Raheem A letter would do just fine.
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Apr 17, 2015 02:13pm
@Usman Ansari - Good point. But also important to to partner with credible parties. That is what Iran is doing. After decades of isolation it is coming out into the open and it needs big credible partners like India and China. These countries are important not just as oil buyers but they will boost up the image of Iran.
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Apr 17, 2015 02:18pm
@Raheem How? I mean you guys are so insecure and funny.
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Apr 17, 2015 02:22pm
Every country thinks about whats good for their people and land (unlike some countries who are busy being either a trouble creator or spoil sport).
We in India support our government and our government supports us, so whether its Iran or any other country if its good for us we all Indians of different cast and creed will Welcome it...
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Apr 17, 2015 02:46pm
India must maintain friendly relations with Iran and should push more investment in Iran. West is now little soft on Iran but no matter what for their own interests they can even destroy Asia. Therefore countries like India, Japan, S Korea, China, Iran, Russia etc.. should come together are increase trade. This will decrease dependency on west and help us to maintain confidence and peace in the region.
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Apr 17, 2015 02:49pm
@citizen good one.
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Apr 17, 2015 02:51pm
@tauseef Busy with China? Hahaha! China is investing 97% more in India than in Pakistan. Even China is more busy with India
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Apr 17, 2015 02:53pm
Pakistan welcomes India-Iran engagement. Let there be Iran-Pakistan-India cooperation in energy.
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Apr 17, 2015 02:56pm
This is indeed a strategic setback to Pakistan. Instead of playing peace role in the Saudi-Yemen conflict she is trying to somehow embroil in the strife. Our political and military leadership should give a chance to Iranian olive branch which is in the best interests of Pakistan. Otherwise polarisation is definitely imminent.
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Apr 17, 2015 02:58pm
Iran need help of India for its economical growth after world has impose ban it was only India which supported employment and job creation in Iran.
We demand our government to help these people to get some money and help them in making progress in infrastructure development and investment in health and education sectors.
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Apr 17, 2015 03:08pm
Good. Get a pipeline thru Pakistan. Trade will lead to peace. Almost 70 years of continuous bickering between neighbors is unhealthy.
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Apr 17, 2015 03:10pm
Iran need foreign buyers of their Oil. When entire world stopped business with them, India aided Iran for making progress in education, healthcare and infrastructure.
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Apr 17, 2015 03:22pm
All oil pipelines to India go through our territory. India needs to come to us.
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Apr 17, 2015 03:27pm
Pakistan dosnt have to worry as Pakistan is the closest ally of China.....whole world can gang up against lone islamic atomic super power ,China will defend Pakistan.
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Apr 17, 2015 03:29pm
@IndianJones Yeah I liked the fighter aircraft French deal where Indians will not make any of the fighters at home. That is so cool.....
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Apr 17, 2015 03:44pm
Don't worry Pakistan will buy oil and gas from China
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Apr 17, 2015 03:52pm
My friends across the border, please ask your government to build a pipeline from Iran border to India border. Charge rent for it from India. We will be more than willing to pay for such cheap and assured energy supply.
This is one chance for you to mend fences with both your neighbours and earn money in the process.
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Apr 17, 2015 03:53pm
Pakistan wouldn't buy Iranian cheap gas via pipeline but it rather expensive gas from Qatar. Thanks for Saudi-US pressure on Nawaz Sharif
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Apr 17, 2015 04:00pm
Afghans or Iranians don't really like Pakistan a lot, so a good strategy to encircle pakistan
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Apr 17, 2015 04:19pm
@Zak : India - Oman pipeline will be on sea bed, not in Pakistan.
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Apr 17, 2015 04:22pm
@Farhad
@Harsh O really! do you mean iran supported india on regional issues i.e. Kashmir and wars between pakistan and india. I think that's not the case. Our government, too, is striving its best to befriend with india. all such steps are taken for the benefit of the public
Feel sorry for you. Yes, Iran supported India on Kashmir.
It was Shah who supported Pakistan with free oil during the war. After the Ayatollahs came in, Iran changed its policy and established closer relation with India. Don't expect it to help you during a war.
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Apr 17, 2015 04:43pm
@Raheem Nope u cant do anything....
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Apr 17, 2015 05:06pm
@Zak do u know , pipline can be constructed thru sea route from iran to india?the distance is also not more.same like china is in the verge of constructing train route from china-russia-usa under sea
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Apr 17, 2015 05:15pm
India got cheap oil from Iran as Iran was under international pressure, not any more , Iran will force India to pay for all the cheap oil it took when Iran was under sanctions, no longer sweet deal for India anymore.
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Apr 17, 2015 06:21pm
@Zak
Thats what will be discussed with Iran my friend. We want to eliminate Pakistan from this oil trade.
1. India to Develop Chahabahar Port, which gives access to Indian freight.
2. India will push for development rights at the Farzad-B gas field in Farsi block, which means India will control the refining and mining the Gas
After these 2 are done, we don't need a pipeline as processed compressed gas can be shifted to India from the Chahabahar Port which is cheaper than the cost of constructing and maintaining the pipeline.
Also, there won't be any security concerns this way, the gas can be exported to Afghanistan through a road network in Iran, with added advantage of using that route for strengthened trade with Afghanistan. See this as India - Iran - Afghanistan corridor.
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Apr 17, 2015 07:33pm
At least convert the units to be same.. 'from 370,000 bpd in 2010-11 to about 220,000 million tonnes in 2014-15' so the readers don't have to do calculations..
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Apr 17, 2015 07:33pm
@Raheem How and Why
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Apr 17, 2015 07:38pm
@Raheem CHINA is the only friend you have
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Apr 17, 2015 07:54pm
@Zak countries sail from around the world to get oil from the Middle East, while India is very close by. Bringing oil through Pak will be cheaper, but not so much that is gives Pakistan some kind of leverage over India. India is not landlocked like Afghanistan so It is not much you can do
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Apr 17, 2015 08:05pm
@Zak again with the pipelines. India is already one of the biggest Iranian oil importers and none of it comes through Pakistan. India can increase this import ten fold without having to come through Pakistan. Pakistanis are delusional about their geo strategic importance to the world. Give these treats to Afghanistan
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Apr 17, 2015 08:51pm
@Farhad India does not mix Kashmir and Oil. Their support or non-support on Kashmir issue won't prevent business activity. More oil is needed to power this energy hungry economy. India is not dependent on oil only but a mix(nuclear, solar, wind and natural gas).
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Apr 17, 2015 09:04pm
@Gaurav Arya Also, India was the only country buying Iranian oil during the sanctions. India acted against international pressure. So, it is natural for Iran to return that favor.
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Apr 17, 2015 09:12pm
@IBN E ASHF AQUE That is called showing flexibility and making course correction when needed.
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Apr 17, 2015 09:21pm
@Avacado They have money and they should !!!
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Apr 17, 2015 09:35pm
Pakistan should pre-empt India. Pakistani delegation should be the first to rush to Iran since we have a perrenial shortage of energy.
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Apr 17, 2015 10:19pm
@Jason - Why should it give us "sleepless nights"? Your are full of preconceived ideas!
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Apr 17, 2015 10:21pm
@Raheem Wouldn't Pakistan like to form am axis of Iran, India, and Pakistan. This is win win situation for all as everybody would make money.
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Apr 17, 2015 11:57pm
@Raheem : How??
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Apr 18, 2015 12:04am
We have not only just economic relations with Iran but defence and strategic as well ,,,for eg we had signed treaties to use each others soil n bases in war case scenarios,,,,
that's the depth of India-Iran relations,,,,!
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Apr 18, 2015 12:44am
Iran is on the up and up.....every country in its right mind, want to do business with them.
They have one of the highest literacy rate in the Muslim world, more scientist and engineers and intellectuals than all Muslim countries combined (with the exception of Turkey).
Iran has a lot going for them.....India making the right move.
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Apr 18, 2015 01:00am
@deva
Good idea.
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Apr 18, 2015 01:03am
@Sunil
The gunmen are suspected Balochi Sunni extremists from Sistan-Balochistan province of Iran. But clearly the Iranians are very eager to open up the Pak-Iran pipeline, so if they blamed Pakistan as much as you Indians like to think, then they'd have halted these negotiations, right? Also, remember how Iranian delegations have been visiting Islamabad over the past few weeks? Makes me wonder why India plays up Pak-Iran irritants so much when the two countries themselves don't seem to care.
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Apr 18, 2015 01:09am
@whats in a name
India has sidelined Pakistan? Ha! Tell me, which country has fallen under India's anti-Pakistan sway? the USA? because I'm pretty sure Bin Laden had more to do with that that anything 56 inch waist Modi says. The Saudis? They're begging us to join their fight - highlighting the fact that Pakistan is the most able military in the Muslim world. The Iranians? They're courting us more than ever to build that pipeline. China? They're investing $46billion into Pakistan. Afghanistan? President Ashraf Ghani is pursuing a Pakistan-first foreign policy. Sri Lanka? Their president is visiting us. Turkey? No, ties are too strong for India to hop in. Maybe you're thinking of Russia? No wait, they're selling us arms and will hold the first ever Pak-Russia joint military exercises. Europe? Nope, they're extending the GSP incentives to Pakistan again and selling weaponry. Central Asia? Nope they're eyeing the CPEC as much as China is. So again, how has India sidelined Pakistan?
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Apr 18, 2015 01:16am
@Atam Vetta
China is announcing its investments in Gwadar next week. They already run the functioning port of Gwadar. They will build the infrastructure to connect it to Pakistan and China. India's plans for Chah Bahar are just fantastic visions at this point. China's plans for Gwadar are actually taking root. So I wouldn't boast that Chah Bahar port in sanction-ridden Iran will ever surpass Gwadar. Remember, the nuclear deal with Iran does not remove all sanctions. Iran remains on the terrorist supporters list. India will have to answer to the US and Israel (and Saudia) if it gets too close to Iran.
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Apr 18, 2015 01:19am
@sunill reality check again. The iran seabed will have to go way out then turn far into the ocean to avoid pakistan maritime zone now extended to 350 nautical miles. Imagine the cost of building that one. Nope, cheap route is , kashmir plebiscite, Iran- Pak pipeline.
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Apr 18, 2015 01:23am
@goggy oooh, costly, costly. Wherever ship and sea is involved it is costly. And when pakistan forms the Afghan, Iran, Turkey block , I.e countries of Khorosan, than one condition of the agreement will be -India out until kashmir UN plebiscite. Blocked again. Back to Pakistans approval.
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Apr 18, 2015 02:49am
Iran has never been a reliable friend of Pakistan, its all about money whoever pays the top Dollar gets the business. When Iran is in trouble then it reminds us of Muslim brotherhood but has never supported Pakistan in difficult times or conflicts
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Apr 18, 2015 03:42am
@Aquib Javed
Oh yeah, Pakistan is a weak country. It needs someone strong like China to save it.
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Apr 18, 2015 06:55am
@rich05
we are losing everywhere even in pak
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Apr 18, 2015 07:21am
@Annonn
There is plenty of crude there; Iran can take care of both India and Pakistan.
Indian delegation is going to Iran for explore business opportunities, not for buying crude; not sure why Pakistanis are not getting that point.
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Apr 18, 2015 07:49am
@Raheem :- India needs oil, are you ready to supply, keep it simple.
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Apr 18, 2015 08:55am
@Aquib Javed Does a superpower need someone's help?
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Apr 18, 2015 07:35pm
@Zak : In most of the world oil travels by ship. Operations costs will be cheaper by pipeline...but it is OK by sea as well.
Just to give you some insights....Saudi buys petrol from Reliance plant in Gujrat and it is sent to them by sea.
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Apr 18, 2015 08:36pm
@Zak no need zak enough ships for transportion
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Apr 18, 2015 09:55pm
Iran can never become Indians friends as they helped supply oil to Pakistan during Bangla war and 1965 war with Pakistan. Moreover Mr. Modi is unlucky for us as they have turned all time friend Russia into Pakistan friend who supplied every technology to us now Russians are having defence drills with Pakistan. American always betrayed their friends. It's not good news it would be waste of money like we had in Afghanistan.
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Apr 19, 2015 06:15am
@Zak
But where is the pipeline you are talking about?
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Apr 20, 2015 09:08am
@Zak Currently no oil is coming to India thru' Pak and India imports maximum oil from Iran.
Does that give you the real picture of how important Pak is to India ?
You may want to do a bit more research.
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Apr 20, 2015 09:12am
@Kumkum I assume you are a congress supporter who have nothing but to criticize Modi for no reason.
None of the things you mentioned is true :)
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