Volume. 11934

Indian exporters want to engage more with Iran
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KOLKATA (India Times) -- With Western sanctions easing, Indian exporters are willing to engage more with Iran where the, EEPC India is planning to field a delegation this year, Mr. Anupam Shah, the chairman of the engineering exporters' body, has said.
"We will do a delegation to Teheran this year," the EEPC India chief said, contending that the hesitation on the part of Indian exporters to engage with Iran for the fear of reprisal from the U.S. is fast easing. As long as the western restrictions were tough on the key Middle East country, the Indian exporters were hesitant to visit Iran fearing that an Iranian visa on their passports could come in the way of receiving visa from the U.S., though there was no written rule about it.
In this backdrop, a demand was even made to the External Affairs Ministry to take up with the Iranian authority to give Indian exporters stapled visas, which was, however, not acceded.
"That fear is going away and we would like to tap the full potential of doing engineering exports to Iran," the EEPC chief said, adding that the trade body has been given clarification that no such apprehension should be nursed.
He said the situation has changed significantly after the November deal between Iran and the U.S. and other western nations under which the Middle Eastern nation has agreed to scale down its uranium enriching program.
In fact, an Iranian delegation had visited the recently- organized India Engineering Sourcing Show (IESS) in Mumbai, jointly organized by the EEPC India and the Commerce Ministry.
With the easing of western sanctions, the problem of payment and receipts is also getting sorted out and the business people from the two countries will be able to do business in a far more effective way, Mr. Shah said.
India can be big supplier of automobiles, including the components, steel, pipes, valves and oil machinery to Iran. The export of engineering items can reduce the trade imbalance as well, since India still imports significant quantity of crude oil from Iran.

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