India's foreign trade policy focuses on Iran: Official

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SME Times News Bureau | 26 May, 2016
India's trade policies have concentrated on Iran, an Indian official said on Wednesday, adding that India was trying to boost trade exchanges with Iran through chambers of commerce.

Khalid Khan, regional chairman of Federation of Indian Export Organisations, said Iranian cities of Isfahan, Shiraz and Tehran were the centres of attention for India.

He said several meetings were held to review ways to widen trade cooperation with those cities, IRNA reported.

Founded in 1962, the organisation supervises export activities in India and is determined to help strengthen trade cooperation through holding different exhibitions, Khan said.

He described Chabahar agreement signed between Iran, India and Afghanistan on Monday as a basis for economic relations between Tehran and New Delhi.

Establishment of Chabahar international corridor will reduce transportation expenses at least by 30 percent, he added.

The corridor is the closest access to countries including Afghanistan, Turkmenistan, Uzbekistan, Tajikistan, Kyrgyzstan and Kazakhstan that are located in the Central Asia, he said.

India and Iran enjoy dynamic economies, said the official, adding trade cooperation between the two will benefit both.

India's ties with Iran are not limited to that area, he said, stressing the two will also widen cultural and diplomatic relations.

Iran and India inked 12 documents on cooperation in different areas during visit of Prime Minister Narendra Modi to Tehran.

Iran's share of exports to India, whose worth of yearly imports is 450 billion dollars, is only 2.5 billion dollars in a year.