The Iranian and Indian business leaders have decided to strengthen the trade relations. Presently, the bilateral trade is worth $15 billion and likely to touch $25 billion by the year 2016.
Mohammad Mehdi Rasekh, the secretary general of Tehran’s Chamber of Commerce, has stated that the current potentials are beyond the present bilateral trade volume. An 80-member Indian business delegation is presently in Iran for deliberations.
Mr Rashid Alvi, Head of the delegation that reached India last week, said that the bilateral economic and political cooperation will be benefiting Iran and India. It will also help strengthen peace and security in the region and also across the globe.
Iran has been successful in making progress in all the sectors and is also a promising country. He has also said that the economic slowdown has displayed that there are lack of choices and it is important to boost the regional cooperation to minimize the impact.
The worth of Iran-India business transactions will reach $25 billion in the upcoming four years, said Ms Arvind Mehta, Joint Secretary of India’s Commerce and Industry Ministry.
Iran has decided to get more than 40% of the oil revenue from exports to India in rupees. The UN Security Council and Western countries have placed a series of economic sanctions on Iran in the recently due to the country’s controversial nuclear program.
