US lifts Sanction on Iran : Impact on India

Last summer Iran has agreed with P5+1 nation that It will stop the nuclear enrichment program and now upon IAEA confirmation about Iran's obligation, US has lifted the sanction imposed on it. 

This development has impact on India as well; which would be as follows:

• India will now be able to buy oil and gas from Iran without any issue. Earlier also India has been able to buy it but under some limitation like rupee agreement. Because of that, Iran has not been able to paid by India as of now due to sanctions. That due can now be disbursed by India and resume the business.
• Iran-Pakistan-India pipeline: This project has been lingering for quite sometime. Mainly due to sanctions most of the investors were not willing to invest in this. Now, that can be expedited which will be very useful for India from energy security aspect. Security issue in Pakistan through which pipeline is proposed to pass is a different issue on which more focus can be given.
• Business investment in Iran: As sanctions have been lifted, now Indian business houses and companies can plan and invest in Iran in sectors like Oil, Gas, petroleum etc. 
• Chabahar Port: India, for quite sometime, has been looking for(India is developing this port) development of this port but this dream still is far from materialized. If implemented, It will allow India to enter Afghanistan and central Asia bypassing Pakistan. It will be strategically as well as economically win win situation for India.

Though different Geo-political issue prevalent in West Asia has not allowed India to be at its best of the relationship with Iran, Its the time when India can take prompt action and propose in all the areas of cooperation which has been now exposed in a better way after the sanction being lifted..