4.5. Iran: New Opportunities?

♤ Iran, with the world’s second largest gas reserves and fourth largest oil reserves.

♤ Iran has a diversified economy with substantial scope for investments in sectors like tourism, healthcare, manufacturing, transportation, finance, etc., that has started attracting many major global players. Its other major advantage is its demographics: 60% of its population is below 30 years of age.

♤ Much of this potential was subdued by the international sanctions trgeted at Iran’s ♤ The Iran-Pakistan-India (IPI) gas pipeline project: In 1993, Pakistan and Iran announced a plan to build a gas pipeline, which Iran later proposed extending into India. Dubbed the "peace pipeline“.♤ Recently, Iran has signed an initial pact with Russia's Gazprom for developing Farzad B, discovered by ONGC. France’s oil major Total and the China National Petroleum Corporation have already signed agreement for South Pars, Phase 11 ♤ Embargoes on the sales and exports of conventional weapons and ballistic missile ♤ The Chinese are building a refinery in Chabahar Free Trade Zone, and Iran has also joined