Ummid Assistant

Samsung sets up fund for poor kids' education

US varsity offers doctorate for education professionals

Welcome Guest! You are here: Home » Business & Economy

Amid sanctions, Indian business delegation heads to Iran

Friday March 09, 2012 10:01:57 PM, IANS

Related Articles

US mounts pressure on India, China to stop Iran oil

Asserting that it was going to "to keep an absolute foot on the pedal" the United States says it's having "very intense and very blunt conversations" with India, China and Turkey to make them stop buying oil from Iran.   »

Unfazed by US, India to step up ties with Tehran

Time to say goodbye to US domination: Iran official

Will keep buying Iranian oil, says India

New Delhi: Amid US sanctions and accelerated efforts by the West to isolate Iran, a mammoth Indian trade delegation Friday left for Tehran to explore business opportunities in the oil-rich country.

The trade delegation comprises around 70 40 businessmen and exporters and is led by Arvind Mehta, joint secretary in the commerce ministry, and M. Rafeeque Ahmed, president of the Federation of Indian Export Organisations (FIEO).

They will be in Iran till March 14, government sources said. They will hold meetings with Iranian chambers of commerce and businessmen to explore new investment opportunities in Iran.

The visit of the trade mission comes amid accelerated efforts by the US and the European Union to push sanctions against Iran which is suspected of developing nuclear weapons under the guise of a civilian atomic energy programme.

Despite the Western sanctions on Iran, India last month sealed a payment mechanism under which Indian companies will pay for 45 percent of their crude oil imports from Iran in rupees.

Not just oil, India also plans to go ahead with refurbishing of the Chabahar Port in Iran and a strategic railway link that will offer it direct access to Afghanistan and the energy-rich Central Asia.

India has taken care to insulate its multi-faceted ties with Iran from the West's prickly standoff with Tehran over its nuclear programme.

India has also chosen not to comment on Israeli accusations about Iran's hand in the bombing that targeted an Israeli embassy car last month and maintained that there is no evidence to point to an Iranian link.

India continues to buy Iranian oil and expand economic relations with Iran. Iran used to supply 12 percent of India's oil imports, but for some time its share has dropped to 10 percent.

India has warned against allowing the Iran situation escalate into a "disastrous" conflict and advocated peaceful resolution of the issue through diplomacy.

"India's relationship with Iran is neither inconsistent with non-proliferation objectives, nor do we seek to contradict the relationships we have with our friends in West Asia or with the United States and Europe," the Indian Embassy asserted in Washington Tuesday.

 


 



 

 

 

 

Home | Top of the Page

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

i

i

 

 

 

Top Stories

Khurshid reprimand needed to uphold EC's dignity: Quraishi

With the assembly polls successfully completed to five states, including the all-important Uttar Pradesh, Chief Election Commissioner (CEC) S.Y. Quraishi has defended   »

Khurshid bows to 'wisdom' of Election Commission

Congress distances from Khurshid, BJP demands PM sack him

 

  Most Read

Rahul 'The Wall' Dravid bids Test cricket adieu

Former India captain and batting legend Rahul Dravid Friday announced his retirement from Test cricket to bring the curtains down on his  »

Rahul Dravid, a gentleman-cricketer to the core

Congress garners numbers, to stake claim in Uttarakhand

The Congress Friday said it would form the government in Uttarakhand with the support of three independents and a regional party member, ending days of uncertainty after a hung verdict in the hill state.  »

Uttarakhand: Congress holds edge in split verdict

 

  News Pick

IPS officer's killing: MP government slammed, judicial probe ordered

Madhya Pradesh Friday ordered a judicial inquiry into the brutal Holi day murder of police officer Narendra Kumar while trying to stop a tractor  »

Israeli attack: Arrested journalist's son denies links to Iranians

The son of Sayed Ahmed Kazmi, an Indian journalist arrested for his links with the terror attack on an Israeli diplomat's wife last month, has denied allegations that his father had given  »

Saudi Arabia condemns Russian accusations over Syria

Saudi Arabia has condemned a Russian statement accusing it of supporting terrorism in Syria. "Such irresponsible statements are mistaking the reality  »

Significant devastation in Syria's Homs: UN official

 

Picture of the Day

Holi celebration in Chennai: A woman reacts while celebrating 'Holi', the festival of colours

(Photo: PTI)

 

 
 
 
 
 
 
 

RSS  |  Contact us

 

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Science & Technology

RSS

Scholarships

About us

International

Health

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

Contact us

Business

Career

Education

     

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

© 2010 Awaz Multimedia & Publications. All rights reserved.