Trade with Iran will favour Indian exporters, says EEPC chief
Updated: Nov 25, 2013 05:10:31pm
New Delhi, Nov 25 (KNN) The trade deal between Iran and six major powers of the world will enhance India's trade with the Persian country and hold promising prospects of stepping up merchandise exports, engineering exporters' body EEPC India said today.
The trade had been halted due to the global sanctions on the Iranian regime.
“India’s total exports to Iran amounted only to USD 3.7 billion in 2012-13, much below the potential provided by the country where economy has been damaged badly by the UN sanctions. Exporters were fighting shy of dealing with the Iranian buyers even in regard to the items beyond sanctions, largely there was so much uncertainty over the payment transfer in the backdrop of sanctions on the financial sanctions,” EEPC India Chairman Anupam Shah said in a statement here.
He said while only an interim and limited deal has been signed, the prospects look good not only for Iran but also for the entire Middle Eastern region, which can provide much-needed boost to export demand for Indian products.
India can export a large number of items to Iran, if unhindered access is provided in that market, including high-tech machinery, automobiles, components besides the agricultural products, said the statement. (KNN/ST)
The trade had been halted due to the global sanctions on the Iranian regime.
“India’s total exports to Iran amounted only to USD 3.7 billion in 2012-13, much below the potential provided by the country where economy has been damaged badly by the UN sanctions. Exporters were fighting shy of dealing with the Iranian buyers even in regard to the items beyond sanctions, largely there was so much uncertainty over the payment transfer in the backdrop of sanctions on the financial sanctions,” EEPC India Chairman Anupam Shah said in a statement here.
He said while only an interim and limited deal has been signed, the prospects look good not only for Iran but also for the entire Middle Eastern region, which can provide much-needed boost to export demand for Indian products.
India can export a large number of items to Iran, if unhindered access is provided in that market, including high-tech machinery, automobiles, components besides the agricultural products, said the statement. (KNN/ST)
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