India to sign 10-year pact with Iran for Chabahar port management, ET reports

India is likely to sign an agreement with Iran on Monday to manage the southeastern Iranian port of Chabahar for the next 10 years, the Economic Times reported.

India Shipping Minister Sarbananda Sonowal is likely to travel to Iran to sign the agreement, the report said, citing unidentified sources.

The Indian government did not immediately respond to a request for comment.

India has been developing a part of the port in Chabahar, which is located on Iran's southeastern coast along the Gulf of Oman, as a way to transport goods to Iran, Afghanistan and central Asian countries that avoids the port of Karachi in its rival Pakistan.

U.S. sanctions on Iran, however, have slowed down the port's development.