Textile and steel are two important sectors in Iran’s Isfahan province where India and Iran can cooperate for mutual economic development, Indian ambassador to Iran DP Srivastava said.
The ambassador’s remarks came in a meeting with head of Isfahan Chamber of Commerce. He expressed India’s readiness to develop trade with the province.
Referring to investment opportunities in tourism industry in Isfahan, the ambassador said that Tata Company, as one of Indian multipurpose investment companies can be active in the sector of hotel building in Isfahan.
He said that India purchased $30 billion of crude oil from Iran last year and that New Delhi is willing to augment trade volume with Tehran.
Head of Isfahan Chamber of Commerce Seyed Abdol-Vahhab Sahlabadi said that Isfahan accounts for 70 per cent of country’s steel production and the existence of 2000 textile units in the province provides a good ground for cooperation with India.
Sahlabadi said that India’s textile and steel machinery prices are higher than those of the Chinese and Europeans and suggested that Indian manufacturers should price their products suitably to attract Iranian buyers.