India and Iran cherish centuries old economic ties and around 600 years ago, Persian was a language spoken in India too. In April 2001, both countries signed the “Tehran Declaration” which set forth the areas of possible cooperation between India and Iran.

In order to explore future areas of bilateral cooperation, World Trade Center Mumbai and All India Association of Industries (AIAI) organized an interactive meeting with H.E. Dr. Ali Chegeni, Ambassador of the Islamic Republic of Iran, New Delhi.

Speaking on this occasion, H.E. Dr. Chegeni remarked, “Iran is ready to meet the energy security of India by launching rupee-rial trade for the export of oil and gas to India. Rupee-rial trade mechanism can help companies from both the countries to deal with each other directly and avoid third party intermediation costs. Iran is also willing to work closely with India to revive and find alternative route for the stalled land pipeline project for transporting natural gas to India.”

Dr. Ali Chegeni informed that India and Iran have many complementarities as Iran is a major producer of urea, petrochemicals, organic fruits, which are generally imported by India. He mentioned that Iran can meet the import needs of more than 260 products, right from urea to petrochemicals where India is import dependent. Similarly, India is a major producer of agro commodities, pharmaceuticals, iron & steel and automobiles, clinkers, cement etc. which are imported by Iran.

To promote exchange of businessmen, tourists and students, Iran has introduced paper-less, electronic multiple visa issuance system for Indians, the Ambassador pointed out.

Earlier in his welcome remarks, Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai said, “In this post COVID world when global supply chain is reshaping, India should rework its trade relation with Iran for the benefit of business communities in both sides. The Chabahar port can be a golden gateway for Indian trade to Eurasian countries and Europe. Both countries should facilitate seamless movement of cargoes through Chabahar port.”

Dr. Kalantri remarked that over the last 20 years, WTC Mumbai and AIAI have been working closely with the diplomatic missions and business associations in Iran to promote bilateral trade and investment. WTC Mumbai has exchanged many high level delegations in the past, including hosting Deputy Prime Minister of Iran and a Parliamentary delegation from Iran in recent years.

Capt. Somesh Batra, Vice Chairman, MVIRDC World Trade Center Mumbai proposed the vote of thanks for the event.

The event was attended by consular corps from other countries, senior officials from EXIM Bank of India, IDBI Bank and members of trade & industry.

In Photo - (from left to right) Ms. Rupa Naik, Executive Director, MVIRDC World Trade Center Mumbai; Capt. Somesh Batra, Vice Chairman, MVIRDC World Trade Center Mumbai; Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai and H.E. Dr. Ali Chegeni, Ambassador of the Islamic Republic of Iran, New Delhi at an interactive meeting at WTC Mumbai