It is also possible that Iran will soon conclude a preferential trade agreement with the Eurasian Economic Union, composed of Russia, Kazakhstan, Armenia, Belarus and Kyrgyzstan. Indeed, the continuation of sanctions against Russia and Iran promotes a process of Eurasian disaffuitable, in which trading blocs are formed mainly because of political necessity and slow down major Eurasian integration plans due to geopolitical barriers. In addition, the re-election of Narendra Modi as Prime Minister in its immediate vicinity will allow New Delhi to withdraw to its immediate vicinity in order to redirect its resources towards defending Chinese influence in the Indian Ocean. It is also working to deepen relations with the countries of the Bay of Bengal Multi-Sector Technical and Economic Cooperation Initiative (BIMSTEC). India has signed free trade agreements with many members of the bloc and has developed strong trade relations with them. In total, in 2017, BIMSTEC accounted for 11.42% of India`s exports, while Central Asia, Afghanistan, Iran, Azerbaijan and Russia accounted for only 2.2%. On 24 January 2013, at a press and announcement conference, the previously signed concession agreement was announced and a separate tripartite agreement was signed in Yerevan by Rasia FZE, the russian railways (RZD) subsidiary of the City`s South Caucasus and the Armenian government, concerning technical cooperation, investment and future operation of the Southern Armenia railways. Rasia FZE announced the appointment of the China Communications Construction Company as a “prominent member of the development consortium” for the project and the launch of the feasibility study.  On 28 July 2012, Rasia FZE (a Dubai-based investment firm of Rasia Group) was granted a concession agreement for the feasibility, project, financing, construction and operation of a new 30-year railway link between Armenia and Iran, with a right of renewal for a further 20 years. The Armenian-Iranian Railway is called the South Armenia Railway Project, which is the main missing link in the north-south international transport corridor between the Black Sea and the Persian Gulf.
Before the completion of the feasibility study, the South Armenia train is expected to be a 316 km railway linking Gavar 50 km east of Yerevan, near Lake Dewan, to the Iranian border near Meghri.  Theme: Bilateral, regional and global groupings and agreements in which India participates and/or harm India`s interests. This is also synchronized with the Ashgabat Agreement, a multimodal transport agreement signed by India (2018), Oman (2011), Iran (2011), Turkmenistan (2011), Uzbekistan (2011) and Kazakhstan (2015) (illustrated shows the year of accession to the agreement) to create an international transport and transit corridor facilitating the transport of goods between Central Asia and the Persian Gulf.  This line will be commissioned in mid-January 2018.  5. What is the Ashgabat agreement? Why is this important for India? We`re talking. India and Iran reached a long-standing agreement signed in 2002 to make Chabahar a complete deep-water port.  The port of Bandar Abbas takes 85% of Iran`s maritime trade and is overloaded.  While Chabahar has a high capacity and plans to expand its current capacity from 2.5 million to 12.5 million tonnes per year.   Unlike Bandar Abbas, Chabahar has the capacity to carry cargo ships of more than 100,000 tons.
 Industry analysts have pointed out that there are long-term plans to integrate Chabahar into the NSTC, “India also observes trade with Europe via the port of Chabahar and the north-south international transport corridor.”  For Central Asian countries and Azerbaijan, INSTC has considerable potential in terms of its ability to open up their economies and enable them to export natural resources and agricultural products to the South.