New Delhi, Feb. 11 -- India is working on a playbook to operate the Chabahar port in Iran after the US waiver on sanctions against Tehran ends in March, said two people aware of New Delhi's stance to balance its ties with its longtime Persian Gulf trade partner and the world's largest economy.

As the geopolitical situation eases and if sanctions on infrastructure are lifted, India would look at ways to remain engaged and operate the terminal given its strategic significance, said the first person quoted earlier, speaking on the condition of anonymity. India's infrastructure at the Iranian port did not face restrictions even when Iran was under the US sanctions earlier.

However, apart from the $120 million invested in the Shahid Beheshti...