According to
an IRNA report, India has shown interest in investing up to US$20 billion in
Iran. This was expressed by Indian Petroleum and Natural Gas Minister
Dharmendra Pradhan.
He made these
remarks during Iran-India Business Round Table which was held in New Delhi. He expressed
India was willing to invest in Iran’s southeastern port of Chabahar. He said
his country would make such an investment ‘if conditions become conducive’.
Iranian Foreign Minister Mohammad Javad Zarif, senior managers from Iranian and Indian chambers of commerce, banks, and other sectors including industry, trade, and science attended the business forum.
Iranian Foreign Minister Mohammad Javad Zarif, senior managers from Iranian and Indian chambers of commerce, banks, and other sectors including industry, trade, and science attended the business forum.
Pradhan also
said that the two countries can increase bilateral oil and gas trade. He, in
addition, showed his country’s willingness to participate in the development of
Iranian Farzad-B gas field in the Persian Gulf.
During the
meeting, the chairman of Iran Chamber of Commerce, Industries, Mines and
Agriculture, Gholam-Hossein Shafei, said the current level of bilateral trade
is not proportional to potentialities, saying that the value of trade can reach
US$30 billion in the future.
Shafei
underlined that possessing huge energy resources, the Islamic Republic can act
as a reliable source to meet India’s need for energy.
He also
mentioned transportation sector as one of the possible fields of cooperation
between the two countries, adding that the recently signed trilateral agreement
between Iran, Afghanistan, and India to develop the Iranian port of Chabahar
can change Iran into the region’s transportation hub.
Highlighting
the significance of Chabahar port in the expansion of Iran-India relations, the
Iranian foreign minister noted that the port can be beneficial not only to Iran
but also to all other regional countries.
Referring to the importance of banking relations as the backbone of economic ties between the two countries, Zarif expressed hope that relations would continue developing in the future.
Referring to the importance of banking relations as the backbone of economic ties between the two countries, Zarif expressed hope that relations would continue developing in the future.
On the first
leg of his three-nation tour of Asia, Zarif arrived in New Delhi to take part
in the Heart of Asia Conference on the situation in Afghanistan and also to
hold talks with high-ranking Indian officials.
Iranian
foreign minister is accompanied by a 70-member high ranking politico economic
delegation who will take part in trade and business meetings with India, China,
and Japan.