Indian business delegation in Iran

The chief of Iran’s Chamber of Commerce, Industries and Mines said the Indian economy provides a good opportunity for Iran to cooperate and interact with the country. On the sidelines of a meeting with a visiting 80-member Indian business delegation, Mohammad Nahavandian told the IRNA news agency that Tehran was ready to start cooperation with New Delhi as India’s economy was now experiencing a 10 per cent growth. India is a country with ample opportunities with which Iran seeks to expand ties, he said. Nahavandian said the current trade, banking and insurance cooperation between the two countries should be further broadened. The Indian delegation arrived in Iran on Friday for a five-day visit, according to Xinhua. At a meeting with a group of Iranian businessmen and experts in Tehran on Saturday, Arvind Mehta, the joint secretary in India’s ministry of commerce and industry, said the value of India-Iran transactions will hit $25 billion in the next four years. Mehta put the current level of bilateral transactions at around $15 billion. Iran sells oil to India worth some $13 billion annually and imports about $2.5 billion worth of goods from India. Mehta said the visit by the Indian delegation will play an important role in enhancing ties.