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Iran considers no limitation in deepening inclusive ties with India

18 February 2018

Heading a ranking diplomatic and economic delegation, Rouhani began his 3-day visit to India with a trip to Hyderabad on Thursday.

"It is a matter of great pleasure for us that an Iranian President has traveled to India after a gap of 10 years", said Modi, who visited the Gulf nation in 2016.

Speaking alongside his Iranian counterpart Bijan Zanganeh at a conference in New Delhi, Pradhan added that Indian firms would raise their oil purchases from Iran in 2018-19.

In May 2016, India, Iran and Afghanistan had inked a pact which entailed establishment of Transit and Transport Corridor among the three countries using Chabahar Port as one of the regional hubs for sea transportation in Iran, besides multi-modal transport of goods and passengers across the three nations.

He thanked Iran for helping develop Chabahar port, which opens the transit route for India to Afghanistan and Central Asia bypassing Pakistan.

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Iran has offered to raise the freight discount on oil sales to India in return for New Delhi agreeing to boost imports, as the OPEC member is keen to eat into the market share of other producers including top rivals Saudi Arabia and Iraq.

After independence from Britain in August 1947, India and Iran briefly became neighbors with hundreds of kilometers of shared borders.

During the visit, India and Iran are expected to sign a number of memorandums of understanding (MoUs) to promote cooperation in the field of energy and connectivity and further strengthen people-to-people contacts.

Both sides have also agreed to set up a Joint Committee of officials to examine feasible options including a rupee-rial arrangement to avoid hindrances in bilateral commercial mechanism.

India and Iran on Saturday expressed interest in enhancing cooperation possibilities in the maritime domain.

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Addressing a joint press event with Rouhani, Modi said the visit by the Iranian president shows how the two sides want to deepen cooperation in key areas, including connectivity.

For better cultural exchange, both sides agreed to grant e-visa facility to travellers. For trade and investment, the two leaders recognised the need to put in place an effective banking channel.

It said the two leaders stressed that terrorism can not and should not be associated with any religion, nationality or ethnic group.

The two leaders emphasised on terrorism, they urged an immediate end on to all support and sanctuaries which are enjoyed by terror outfits. "They called on the global community to end selective or partial approaches to combating terrorism".

The Chabahar port is being considered by India, Iran and Afghanistan as a gateway to major opportunities for trade with central Asian countries.

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Iran considers no limitation in deepening inclusive ties with India