Iran has emerged on to the world stage after 36 years of isolation. India must double up its diplomacy and commercial engagement with Iran, and move boldly beyond the curtain of ‘civilisational’ ties. Time to put that natural advantage to good commercial use through a vigorous private sector engagement with Tehran.

The strategic and geopolitical importance of Iran’s Chabahar Port is not lost on India. It is for this reason that India is keen to partner with Iran on investing in developing berths at the Port. Although the relationship between the two have had its ups and downs, it is time that with a nuclear deal in place between Iran and the P5+1, India realises that it has much more at stake in its relationship with Tehran.

The nuclear deal with Iran benefits India and Pakistan in terms of energy security and connectivity. But both countries also face challenges in their prospective engagement with Tehran, and both will have to tread carefully while using the new opportunities.

A journey which began in Istanbul in 2012 ended in triumph in Vienna in July 2014, as the P5+1 countries and Iran announced a Joint Plan of Comprehensive action that would see Iran free of all economic sanctions while upholding the right to a civil nuclear programme. While this journey, fraught with challenges, technically is over, the ratification battle in the U.S. congress commences now

Amit Bhandari, energy and environment fellow, speaks to Dev Lewis, Gateway House, on the impact of the Iran deal on global energy markets. He also outlines why this is a window of opportunity for Indian business

The announcement in June of a Saudi-Israeli alliance against Iran has to be seen in the context of the strategic dimensions of India’s relations with Saudi Arabia, Israel, Iran, and the U.S. And it has far-reaching implications for India’s policy towards West Asia

A possible Iran nuclear deal means a longer window of lower oil prices. But the glut of oil supplies is already resulting in cutbacks to oil exploration and production spending, and will eventually lead to higher energy prices. Before that happens, India must use this opportunity to lock in prices

If the sanctions against Iran are eased following the April 2 agreement with the P5+1 on the country’s nuclear programme, it will increase global oil and gas supplies, bringing stability to energy markets. It could also resolve the issue of the Farsi Block in Iran, where further exploration of gas by Indian companies has been held back

One of the long-standing issues in the Iran-P5+1 negotiations was Iran's Arak nuclear reactor because of its potential to produce weapons grade plutonium. The recent Iran-P5+1 agreement includes a resolution that has specific measures to ensure it is not used to used to produce nuclear weapons

With the EU, Iran, and other entities taking decisive steps on April 2 to ensure a non-nuclear Iran, President Obama must now counter interests in the U.S. that want to stymie the final agreement. But having come this far, and considering the comprehensive benefits of an agreement, all sides are sure to deliver