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Hyderabad: With trade between India and Iran crashing to just $2 billion from $16 billion, the Iranian government is keen on stepping up bilateral trade where it expects Telangana to play a key role in certain sectors, thanks to its expertise, Iranian foreign affairs minister Hossein Amir-Abdollahian said.
“We are here to further economic ties with India and explore trade possibilities with Telangana and use its expertise in sectors like IT/ ITeS, pharma, food and agriculture,” the Iranian minister said during an interactive meet organised by the Federation of Telangana Chambers of Commerce & Industry (FTCCI) and the Chamber of Commerce for Iran Trade Promotion (CCITP) here on Friday.
According to a press release issued by FTCCI on Saturday, the minister said Iran also offered many opportunities for Telangana’s entrepreneurs in the fields of manufacturing, energy and petroleum sectors.
Pointing out that Telangana and Hyderabad occupy a special place for all Iranians because of similar cultures and traditions, he said Iran plans to engage with corporates and entrepreneurs of South India through similar trade visits and an Iranian business delegation was expected to visit in the coming weeks to scout for investment possibilities.
“We have defied unilateral sanctions imposed on us by the US administration. We are sure these sanctions will not last. We are proud that we made more progress in sectors where sanctions were imposed specially in science & technology and defense systems. We met PM Narendra Modi and discussed ways to enhance trade with India, which has dropped to $2 billion from $16 billion. We are addressing these issues,” he said. Telangana’s industries & IT principal secretary Jayesh Ranjan pitched Telangana as the ideal state for investments.
“We are here to further economic ties with India and explore trade possibilities with Telangana and use its expertise in sectors like IT/ ITeS, pharma, food and agriculture,” the Iranian minister said during an interactive meet organised by the Federation of Telangana Chambers of Commerce & Industry (FTCCI) and the Chamber of Commerce for Iran Trade Promotion (CCITP) here on Friday.
According to a press release issued by FTCCI on Saturday, the minister said Iran also offered many opportunities for Telangana’s entrepreneurs in the fields of manufacturing, energy and petroleum sectors.
Pointing out that Telangana and Hyderabad occupy a special place for all Iranians because of similar cultures and traditions, he said Iran plans to engage with corporates and entrepreneurs of South India through similar trade visits and an Iranian business delegation was expected to visit in the coming weeks to scout for investment possibilities.
“We have defied unilateral sanctions imposed on us by the US administration. We are sure these sanctions will not last. We are proud that we made more progress in sectors where sanctions were imposed specially in science & technology and defense systems. We met PM Narendra Modi and discussed ways to enhance trade with India, which has dropped to $2 billion from $16 billion. We are addressing these issues,” he said. Telangana’s industries & IT principal secretary Jayesh Ranjan pitched Telangana as the ideal state for investments.
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