Ongoing Trip Of Iran’s Trade Delegation To India Will Boost Economic Ties: Chandok

New Delhi, May 8, IRNA – The ongoing trip of Iran’s trade delegation to India will boost economic ties between both the friendly nations, said P S Chandok, Vice President of the Indo-Iran Chamber of Commerce, in New Delhi on Tuesday. Talking to IRNA, Chandok said: “I am optimistic that the trip will explore new opportunities for enhancing trade between the two nations. Chandok noted that that huge opportunities are available in many sectors. He maintained that India and Iran have made huge strides in enhancing trade ties, referring to the future prospects as bright. Bilateral trade between India and Iran is around USD 13.6 billion, of which Indian export is merely USD 2.74 billion. The main item of trade is oil which accounts for 12 per cent of India's total oil imports from Iran. Around 50-member business delegation, led by Tehran chamber's President Yahya Al-e Eshagh, met members of the Federation of Indian Export Organizations (FIEO), headed by Rafeeq Ahmed on Monday. They will meet with members of Assocham and Federation of Indian Chamber of Commerce and Industry (FICCI) on Tuesday. The team will leave for Mumbai on Wednesday. FIEO's big business delegation, including a group of Indian exporters, visited Iran in March 2012. They received very encouraging response from Iranian businessmen./end