India-Iran bilateral trade to cross $15 billion by 2015: Irani Ambassador

Hyderabad, Jan 16 : Ambassador of Islamic Republic of Iran Gholam Reza Ansari on Thursday said that the Iran and India bilateral trade worth would reach $15 billion by 2014-15 financial year. The bilateral trade in last economical year 2013-14 was $13.5 bn.

He was speaking in an interactive session organised by the Federation of Andhra Pradesh Chambers of Commerce & Industry (FAPCCI) on “India and Iran bilateral Trade and Commerce” at Federation House at Red Hills on Thursday.

Consul General Hassan Nourian, members of high-level delegation including members of Irani Parliament Abdul Reza Misri, Salar Moradi, Ali Reza Mahjoob, Imraan Ali Mohammedi, Hamid Reza Mashadhi Abbas, Mohammad Mehdi Maftah and Jawad Barat, Counselor (Economic Section of Irani Embassy), FAPCCI Vice-President Anil Reddy Vennum, International Trade Relations Committee Chairman Shyam Sunder Pasari and others addressed the programme.

Anil Reddy, in his welcome address, said that the FAPCCI has been working very closely with the Consulate General of Islamic Republic of Iran, Hyderabad, to promote the trade between the two countries by organizing interaction meetings with the business delegations on a regular basis. With a view to further build on these initiatives and leverage the potential of India-Iran synergies, a Chamber of Commerce for Iran Trade Promotion has been formed.

The FAPCCI had also signed MoUs with Iran Chamber of Commerce, Industries and Mines and also with Commercial Organization of Khorasan Province, to foster friendship and to promote trade, investment, social, economic, human resource development, technical and scientific cooperation and all other spheres of economic activity.

During 2012-13, exports were to the tune of US$ 2068.08 million whereas the imports from Iran were US$ 8471.64 million. The total trade is US $ 10539.72 million. India’s exports to Iran include rice, machinery & instruments, metals, primary and semi finished iron and steel, drugs/pharmaceuticals & fine chemicals, processed minerals, manmade yarn and fabrics, tea, organic/inorganic/agro chemicals, rubber manufactured products, etc. India’s imports include Crude Oil, urea, Petroleum products, Saffron, Dry Fruits. It is understood that there are more than 8,000 Iranian students studying in India. India over the years has emerged as one of the favorite tourist destinations for Iranian tourists and every year around 40,000 Iranians visit India for various purposes.

The Islamic Republic of Iran is inviting investors from Andhra Pradesh and India to invest Pharmaceutical and Information Technology sectors in Iran. The Iran government is also willing to invest in joint investments or joint industries into Iran. The India and Iran is most natural economic partners and much more close in economical relations he said. Iran also invites investments into energy sector, which is more potential market in Iran. We are looking vibrant and long lost relations with India in bilateral trade issues. Iran also have capable manpower in Iran, this is an additional asset for investors to invest in Iran, Gholam Reza Ansari said. INN