TEHRAN (FNA) – A 12-member business delegation of the Confederation of Indian Industry (CII) is slated to arrive here in Tehran Saturday, both on a fact-finding mission and to forge better business relations with Iranian companies.
“The mission would lay stress on one to one meetings with the Iranian companies to facilitate transaction of business,” a CII statement said ahead of the visit at the invitation of Iranian Economic Affairs Minister Davood Danesh Jafari.
The Iranian minister had urged Indian Industry to enhance bilateral trade and economic ties with Iran companies, particularly in the private sector that was being roped in to give a major boost to its economy.
The industry lobby said potential areas of cooperation included steel, oil and gas, energy, petrochemicals, automobiles, communication, IT food processing, pharmaceuticals and technology.
Bilateral trade between India and Iran has been growing at a fast pace and was estimated at $9.33 billion last fiscal, out of which Indian exports amounted to $1.49 billion, while imports were valued at $7.84 billion.
Companies represented in the mission include Bharat Heavy Electricals, Ashok Leyland, TCE Consulting Engineering, Triveni Engineering, Thermax, Fleet Gaskets, LMJ International and Mungi Brothers.