Iraj Elahi made the remarks at the Iran-India Business Forum on Tuesday and stated that Iran and India are considered complementary based on the two countries’ economic indicators.
The value of trade exchanges between Iran and India in the pre-sanctions period reached $18 billion but after sanctions were imposed by the US against Iran, the volume of bilateral trade significantly slumped, he said.
In recent years, the volume of trade, with crude oil and urea excluded, increased to $5 billion with the incessant efforts of commercial envoys and this promises a bright future in trade ties between the two countries, he stated.
Noting that India is among Iran’s five top trade partners, Elahi added that the Indian market is ready to expand its relations with Iran and the growing economy of the South Asian country is considered as the best lucrative market in Asia and the world.