The First Indian Ocean Dialogue (IOD) was held from 5 to 7 September 2014 in Kochi, Kerala, India. This track 1.5 dialogue was hosted by the Observer Research Foundation with support from the Ministry of External Affairs, Government of India. IORA's participation in this inaugural dialogue underscored its role as the preeminent intergovernmental organization for the region.

The key outcome was the "Kochi Consensus," a document capturing the collective vision and recommendations from the dialogue. IORA's involvement in this foundational event helped shape a broader, inclusive understanding of regional priorities.