Volume. 11869

Iran keen to remove restrictions on banking with India: minister
PDF Print E-mail
Font Size Larger Font Smaller Font
c_330_235_16777215_0___images_stories_edim_04_02(67).jpgIran is keen to remove restrictions on banking with India and is hopeful the Reserve Bank of India (RBI) will address the issue as the two countries try to increase trade, particularly oil imports.
Trade without removing banking restrictions will not grow..., we can have more trade (only) if this is solved. The Indian government should facilitate it” said Iran’s industry minister Mohammad Reza Nematzadeh.
The issue is understood to have been discussed in bilateral talks between commerce and industry minister Anand Sharma and Nematzadeh on the sidelines of the World Trade Organization summit.
This is the first meeting between the two countries after Iran struck a compromise with the U.S. and five other superpowers on its nuclear program.
Sources said India’s bilateral talk with Iran focused on its need to maintain energy security and acquisition of oil fields as well as its strategic position that allows connectivity to Central Asia and Afghanistan.
The minister is also hopeful that the issue of sanctions on Iranian shipping companies with Iranian insurance will soon be “resolved” and further help trade between the two countries.
India is Iran’s second largest crude oil importer. Trade between the two countries touched $ 15.8 billion in 2012 with imports from Iran consisting of a major chunk at $ 13.27 billion.
(Source: financialexpress.com)

rssfeed socializeit
Socialize this
Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader
Twitter Facebook Myspace Stumbleupon Digg Technorati aol blogger google reddit