TEHRAN (IRNA) -- President Mahmud Ahmadinejad said on Friday that Iran is ready to reach a fair agreement with India and Pakistan on the proposed gas transmission pipeline project.

Ahmadinejad made the remarks in a telephone conversation with Indian Prime Minister Manmohan Singh while pointing to his recent phone talks with Pakistan President Pervez Musharraf.

Referring to the deep-rooted, friendly ties and cultural bonds between the Iranian and Indian nations, the Indian premier expressed the two sides' willingness to further bolster bilateral relations in all fields.

India intends to expand and consolidate ties with Iran. It believes one or few specific stance on certain issues can have no impact on mutual relations with respect to the two countries' great potentials for bolstering ties, he said.

Singh added that promotion of Tehran-New Delhi ties would be beneficial for the two sides and the entire region, saying India is determined to implement the proposed Iran-Pakistan-India gas pipeline project.

He stressed his country would continue its real efforts to reach a tripartite agreement on the project.

The Iranian president and Indian prime minister stressed the importance of setting a schedule to sign a deal on the gas transfer project.

If Iran, India and Pakistan fail to reach an agreement within the newt few months, they plan to hold a session in Tehran to discuss the case, he said.