Indians keen to invest in Iran’s industry

TEHRAN (ISNA)- Head of Iran-India Trade Council Ebrahim Jamili said Iran’s exports to India mainly includes steel, ammonia, oil condensations, adding Indians are willing to invest in Iran’s steel, petrochemistry and equipping Chabahar Port, southern Iran.

India mainly produces agricultural, industrial and mineral products, as well as rice, wheat, oil seeds, copper, aluminum, vehicles, manganese, iron ore and phosphate, he said, adding Indian investment in Chabahar Port can prove effectively in transit of Iranian goods and exports of Indian products.

Jamili further continued that preferential trade is necessary for bilateral ties between the two sides, adding signing such an agreement would help increase Iran’s exports to India.

Iran and India which have deep historical and cultural relations are now seeking to further expand ties in various domains.

India, the world’s fourth-largest petroleum consumer, is Iran’s second largest oil customer after China and purchases around $12bln worth of Iranian crude every year, about 12 percent of its consumption.

Iran is a rich country in terms of natural resources, and India enjoys advanced agriculture and computer industry.

Combination of Iran and India capabilities and capacities can flourish both sides’ economies.