Iran-India transactions to hit $25b

The value of India-Iran transactions will hit $25 billion in the next four years, a visiting Indian official announced here Saturday. Joint Secretary of India’s Ministry of Commerce and Industry Arvind Mehta made the remark in a meeting with a group of Iranian and Indian businessmen and experts in Tehran. Mehta put the current level of bilateral transactions at $15 billion, adding the trade balance with Iran is currently in Tehran's favor. On the current visit to Iran of an Indian 80-member business delegation, he said both sides enjoy vast opportunities for developing mutual ties. The Indian official stressed that the visit plays a pivotal role in enhancing mutual ties. An Indian business delegation arrived in Tehran on Friday with the aim of discussing trade opportunities with Iranian officials despite the West’s anti-Iran sanctions.