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| India to maintain trade ties with Iran despite sanctions: envoy |
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TEHRAN – India will keep its trade ties with Iran despite the international economic sanctions imposed on Iran, Indian Ambassador to Iran Shri D.P. Srivastava said.
He made the remarks in a meeting with some officials from Iran’s ministry of labor and social affairs in Tehran on Wednesday.
In March, Consul General of Iran in Hyderabad, Hassan Nourian, said bilateral trade between India and Iran is poised to cross $25 billion within four years.
“The Indo-Iran trade cooperation amounts to $15 billion. Both the governments of Iran and India have come to a conclusion that in the next four years they want to take it to $25 billion,” Nourian said.
About 45 percent of exports from Iran are paid in Indian rupees, and the Indian Ministry of Commerce has expressed desire to encourage trade to use the rupee surplus accumulated through oil exports from Iran to India.
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