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FACTDROP: India, Iran set up $25-b trade target for next 4 years


India, Iran set up $25-b trade target for next 4 years

Πηγή: Business Line
March 12 2012

DUBAI: Amidst problems of settling bills, India and Iran have set a bilateral trade target of $25 billion within the next four years. At present, the two-way trade between the countries stands at $15 billion, Joint Secretary in the Commerce Ministry, Mr Arvind Mehta, said.

The 80-member delegation led by Mr Mehta was on a five-day visit to explore business opportunities, a Tehran Times report said.

The delegation comprised representatives from the public and private sectors including President of the Federation of Indian Export Organisations (FIEO), Mr Rafeeque Ahmed.

New Delhi is exploring ways to step up trade with Tehran in the wake of sanctions being imposed by the US and Europe. India, which is heavily dependent on oil from Iran, maintains that it will implement only those sanctions which are imposed by the United Nations.

India believes that huge export opportunities are available in sectors like food (that include tea, wheat and rice), pharmaceuticals, iron and steel and infrastructure projects.

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