The current trade balance between Tehran and New Delhi stands at USD 14 billion, the major part of which constitutes the exports of Iran.
 

The current trade balance between Tehran and New Delhi stands at USD 14 billion, the major part of which constitutes the exports of Iran's oil and its derivatives to India.

 

Representatives of an Iranian business delegation, which recently returned from India, say New Delhi has maintained its independence by refusing to surrender to Western pressures to cut ties with Tehran.

 

Mohammad Mehdi Rasekh and Mohammad Reza Bakhtiari, respectively secretary-general and vice president for international affairs at Tehran’s Chamber of Commerce, spoke highly of their six-day visit to Mumbai and New Delhi and said Indian officials have announced that Iran is of strategic importance to the South Asian country.

 

Rasekh added that energy was one of the most important issues discussed by the two sides.

 

During the talks, the two sides also agreed to increase their trade balance to USD 25 billion and to boost the level of non-oil trade from the current USD four billion to USD 10 billion. The current trade balance between Tehran and New Delhi stands at USD 14 billion.

 

An agreement was also signed according to which Iran can import some industrial items in the oil and gas sector from India, Rasekh said.

 

The six-day tour by the Iranian delegation, representing 30 Iranian companies, follows a visit by an Indian delegation to Tehran in March, which the head of the Federation of Indian Export Organizations described as “very successful.”
 

(Source: PressTV)