Speaking at a joint press conference with Iranian President Hassan Rouhani in Tehran, Modi underlined that economic cooperation will bring about welfare for the two nations.
The Indian prime minister arrived in Tehran on Sunday for an official visit. 12 agreements were signed at a ceremony on Monday, attended by senior cabinet members of the two countries.
Elsewhere in his comments, Modi highlighted the significance of cooperation with Iran in different fields, including trade, railroad industry, oil and gas industries, and culture.
India and Iran play major roles in the region’s security, stability and development, he added.
Modi also invited President Rouhani to pay a visit to India for more negotiations and finalization of the agreements.
In addition to the Indian prime minister, Afghanistan’s President Ashraf Ghani also arrived in Tehran this morning for a ceremony to sign a trilateral memorandum of understanding (MoU) between Iran, Afghanistan and India on the development of the southeastern Iranian port city of Chabahar.
International interest in ties with Iran has been growing since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a comprehensive nuclear deal and started implementing it on January 16.
The agreement, known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions imposed on Iran.