Wednesday August 21, 2019
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India set to expand trade relations with Iran

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New Delhi: A press report in Iran revealed that New Delhi was interested in inking a preferential trade agreement with Tehran once the global embargo related to trade was lifted.

“We have a good relationship with Iran. It is a good market for us in the long term,” the Economic Times newspaper quoted a “senior” commerce department official as saying.

If the agreement is sealed then it would be the first of its kind in India. Though the trade pact is in a conceptual stage, both India and Islamic Republic of Iran had expressed deep eagerness in the deal. However, no formal negotiations had been initiated.

New Delhi’s eagerness comes at a time when the Obama administration is slated to lift the embargo in January next year. Notably, the report filed by the nuclear watchdog of the United Nation said that there was a dearth of evidence that could prove that Iran was carrying out the process of uranium enrichment for developing nuclear arms. They had successfully justified its activities of the hard-water plants as well.

Earlier, the Manmohan Singh government in India had failed to implement the project of a gas pipeline which also involved Pakistan. It had allegedly irked the Tehran.

However, the Iran and the six-nations talks on the nuclear deals and the IAEA’s reports had cornered Tehran.

India had not explored the West Asian market before due to obvious reasons. Civil wars, militancy and religious fundamentalism in the west Asian counties did hinder business strategies.

However, currently India is spreading its market globally under the stewardship of Narendra Modi. The deal with the country would definitely provide a foothold to explore markets in the region.

Besides exporting chemicals, agricultural goods and automobile spares to Iran, India ranks second in importing crude oil from them.

A deal with them would not only be profitable for India, but it would bolster the economy of the country.

(With inputs from ET)

Next Story

Twitter Blocks Accounts of Major Iran News Agencies

The micro-blogging site said all the account sets were originated in Iran

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Twitter, India, Smartphone
Twitter on a smartphone device. Pixabay

Twitter has blocked accounts of some major Iran news agencies over alleged harassment of people who follow the Baha’i faith.

The agencies speculated the blocking of their accounts occurred after British-flagged oil tanker was seized by the country in the Strait of Hormuz amid heightened tensions in the Gulf.

Persian language Twitter accounts of the official Islamic Republic News Agency (IRNA), Mehr News agency and the Young Journalists Club (YJC) news outlet were suspended due to Twitter rule violations, Sputnik News reported on Sunday.

Some media reports said the accounts were suspended for targeted harassment of people associated with Baha’i — a minority faith in Iran.

According to the English edition of Mehr News, the two agency’s accounts (@MehrDiplomacy and @MehrNews_FA) were blocked for unknown reasons.

Twitter users noted that state-run media IRNA (@irna_1313) and the YJC (@yjcagency) accounts have also been suspended.

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FILE – A man reads tweets on his phone in front of a displayed Twitter logo. VOA

Twitter was yet to issue an official statement on this.

The accounts were blocked after Iran’s Islamic Revolutionary Guard Corps seized the tanker Stena Impero in the Strait of Hormuz for violating international maritime regulations.

In June, Twitter pulled down almost 5,000 accounts suspected of being directly run or linked to the Iranian government.

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The micro-blogging site said all the account sets were originated in Iran.

Twitter cracked down on a total of 4,779 pages and it took down at least 1,666 accounts in set one that originated in Iran. Cumulatively, these accounts tweeted nearly two million times. (IANS)