By IANS,
New Delhi : In a bid to look for bilateral economic ties that go beyond the energy sector, a 10-member business delegation is visiting Iran on a three-day mission starting Tuesday, coinciding with the Tehran International Fair.
Vijay R. Kirloskar, chairman and managing director of Kirloskar Electric Co, is heading the delegation under the aegis of the Confederation of Indian Industry (CII) with the larger agenda of pushing trade, economic and investment relations between the two sides.
“India-Iran trade and commercial relations are dominated by Indian import of Iranian crude oil,” a statement by CII said, ahead of the visit, emphasising on the need to build partnerships in a host of complimentary areas.
“The sectors identified for cooperation are pharmaceuticals, automobiles, components, fertilizers, petrochemicals, energy, mining, iron, steel, banking, financial services, information and communications technology and biotechnology.”
The bilateral trade between the two sides has been growing, with the total value of $12.59 billion between April 2008 and February 2009, against $11.77 billion logged in the like period of the previous fiscal.
Some members of the Indian side are also expected to allay fears about the food safety standards of basmati rice after some reports in Iran, which is now the largest importer of the aromatic cereal from India, suggested traces of arsenic in one of the shipments.
The delegation includes representatives from Essar Steel, Dynamic Logistics, Thermax, International Tractors, Wendt India, Mungi Brothers and Kohinoor Foods.