Indian business delegation heads to Iran, Amid sanctions

SATURDAY: A Mammoth Indian delegations consisting of 40-70 members left for Iran on Friday to explore business activities there, amid US sanctions and accelerated efforts by western countries to isolate Iran. The delegation comprises of businessman and exporters and was led by Arvind Mehta, joint secretary in the commerce ministry, and M Rafeeque Ahmed, president of the Federation of Indian Export Organizations (FIEO).

They will be expected to reach there up to 14 March and will be holding meetings with Iranian chambers of commerce and businessmen. Despite US sanctions on Iran because of suspecting it for developing nuclear weapons under the guise of a civilian atomic energy programme, India last month sealed a payment mechanism under which Indian business man can directly pay 45% of their crude oil import from Iran in rupees.

India is also planning to go ahead with refurbishing of Chabahar Port in Iran and to open a rail link directly to central Asia .It will give India direct access to these energy rich countries. 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 kept silent 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 will continue to buy Iranian oil and expand relations with Iran. India used to buy about 12% of their oil from Iran which drops to 10 % for some time. “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 on Tuesday.
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