Salman Khurshid arrives in Iran
Tehran: External Affairs Minister Salman Khurshid arrived here on Friday on a three-day visit during which he will have talks with Iranian leadership on ways to increase commercial links with the sanctions-hit country to reduce huge bilateral trade imbalance.
India`s participation in the upgradation of Iran`s Chahbahar port, which gives access to Afghanistan, will also be among a host of issues expected to figure in the talks that Khurshid will have with his counterpart Ali Akbar Salehi and President Mahmoud Ahmedinejad.
The two sides will sign three MoUs following the Joint Commission meeting that is taking place after a gap of two and a half years.
India is looking at ways to increase trade with Iran as it is concerned over the "grave" imbalance. The two-way trade is around USD 15 billion, out of which Indian exports account only for around USD 2.5 billion.
Oil is the biggest item of Indian import from Iran but India feels there is a lot of scope for increasing Indian exports to the Persian country particularly in pharmaceuticals and food.
However, efforts to enhance trade have been facing hurdles because of sanctions imposed by the UN and European Union, which make payment difficult.
There are also problems like re-insurance of oil refineries and transportation of consignment from Iran because of the sanctions.
Chahbahar port is strategically crucial as it gives access route to Afghanistan and India is actively involved in its upgradation with plans to infuse around 100 million dollars.
More from India
More from World
More from Sports
More from Entertaiment
- DNA: Exclusive report on the extreme sacrifices made by ITBP soldiers
- Bird flu grips nation, Delhi worst affected
- I pay my tribute to martyr Naresh Pal: PM Narendra Modi
- How will the rift in Samajwadi Party affect UP politics?
- Some people are creating confusion between me and my father: Akhilesh Yadav
- Explosion in Delhi's Naya Bazar, one killed; anti-terror wing, Special cell at spot
- This is why Cyrus Mistry was removed as Chairman of Tata Sons!
- Prompt action on border pushes Pak to offer olive branch, says both sides need to 'formalise' 2003 ceasefire
- Read letters by Ratan Tata to PM Narendra Modi and Group employees after Cyrus Mistry's ouster
- 7th Pay Commission: Committee on Allowances proposes hike in HRA for central govt employees