India’s market ready for Iranian goods: Envoy
Iraj Elahi made the remarks at the Iran-India Business Forum on Tuesday and stated that Iran and India are considered complementary, based on the two countries’ economic indicators, reported IRNA.
The value of trade exchanges between Iran and India in the pre-sanctions period reached $18 billion, but after sanctions were imposed by the U.S. against Iran, the volume of bilateral trade significantly slumped, he said.
In recent years, the volume of trade, with crude oil and urea excluded, increased to $5 billion, with the incessant efforts of commercial envoys and this promises a bright future in trade ties between the two countries, he said.
Noting that India is among Iran’s top five trade partners, Elahi added that the Indian market is ready to expand its relations with Iran, and the growing economy of the South Asian country is considered the best lucrative market in Asia and the world.
Speaking in the forum, the head of the Trade Promotion Organization of Iran (TPOI) said the incumbent government made efforts to conclude deals in the past two years, and prepared plans to restore relations with India as well.
Without the active presence of Iranian and Indian businessmen, the expansion of relations will not be possible, added Mehdi Zeighami. “Contrary to the business record we experienced in the past years, there is a very high capacity for trade between the two countries,” he noted.