Cabinet nod to develop Iran port at $150 million
The Union Cabinet on Wednesday cleared the proposal to develop Iran’s Chabahar port at a cost of $150 million.
The Union Cabinet on Wednesday cleared the proposal to develop Iran’s Chabahar port at a cost of $150 million. In another decision, the Cabinet, which met under Prime Minister Narendra Modi, approved a proposal to establish Atal Innovation Mission (AIM) and self-employment and talent utilisation in Niti Aayog, which will encourage innovations and entrepreneurship.
The strategic Chabahar port, which is located off Iran’s south-eastern coast, will provide India a sea-land access route to Afghanistan, bypassing Pakistan. In May last year, shipping minister Nitin Gadkari had visited Tehran where India and Iran signed a pact to develop the port.
After the MoU for the development and operation of two terminals at Chabahar port, discussions were on for concluding the agreements, which include the possibility of India taking over the development and operation of Phase II of Chabahar port.
The Cabinet also approved a proposal to establish AIM and self-employment and talent utilisation in Niti Aayog. “The Union Cabinet, chaired by Prime Minister Narendra Modi, has given its approval for establishment of AIM and self-employment and talent utilisation (SETU) in Niti Aayog with appropriate manpower,” an official statement said.
The establishment of AIM and AIM directorate would result in implementation of mission activities in a focused manner, it added.
It said that AIM would be a focal point for innovation and entrepreneurship in the country.
It would be guided by a mission high-level committee, which will take all decisions relating to approval of requisite guidelines, including grand challenge areas, prize money and implementation of various elements of AIM and SETU.
Niti Aayog will hire a mission director and other appropriate manpower. The headquarters of the mission will be New Delhi. With a view to give a substantial boost to the innovation ecosystem and to catalyse the entrepreneurial spirit in the country, the finance minister, in last year’s Budget speech, had announced the government’s intention to establish AIM and a mechanism to be known as SETU in Niti Aayog with an initial sum of Rs 500 crore and Rs 1,000 crore, respectively.