Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

India to invest in Iran in Rupees amid sanction fears.


Date: 16-02-2018
Subject: India to invest in Iran in Rupees amid sanction fears
NEW DELHI: India, for the first time beyond Bhutan and Nepal, will invest in a foreign country — Iran — through its own national currency Rupee to bypass any trouble arising out of impending US sanctions. 

PM Narendra Modi and Iranian President Hassan Rouhani are expected to put a mechanism in place for this purpose when they meet here on Saturday. 

Rouhani is expected to seek Indian investments across sectors from ports, railway network and SEZ when he meets the Indian leadership and address a business meet here on Saturday. India has decided to invest in its national currency in Iran, which will be first of its kind, beyond Nepal and Bhutan, persons familiar with the matter said. 

Rouhani arrived in Hyderabad on Thursday evening and will lead Friday prayers in a leading mosque in Southern Indian city before arriving in Delhi. Rouhani who has been to Hyderabad before in a different capacity was keen to revisit the city and connect with Iranian legacy there. 

The Indian investments in Rupees will get converted into Iranian Rial through banking mechanism allowing investments from here, including in the Chabahar Port complex, said one of the persons quoted above. 

India which has started operating Chabahar Port on Iran’s east coast as a way to gain access to Afghanistan is assisting to expand port complex that will be Delhi’s gateway to Central Asia and beyond. 

Connectivity besides energy sector will top Rouhani’s agenda in India. Iran is also key link to INSTC project. An agreement on India’s role in Phase-1 of Chabahar Port is expected to be inked on Saturday. 

The two sides were also trying to narrow differences over Farzad B gas field that Oil and Natural GasBSE -0.21 % Corp discovered a decade ago. A delegation from Iran’s Pars Oil and Gas Company is holding talks on this. 

India is also looking into options to expand energy ties with Iran beyond oil imports and Farzad-B gas field. “There are a number of projects for expansion of ties in the pipeline that not only will be in the interests of both nations but also in the interest of the region,” Iran’s ambassador to India, Gholamreza Ansari, said in a national day speech last week. US threat to reimpose sanctions on Iran has compelled India to explore different avenues to invest in Iran. 

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 24-10-2020



Date: 21-10-2020
Notification No. 38/2020-Customs
Notification regarding exemption of duties of Customs against scrips issued under the RoSL scheme for apparel and made-ups sectors.

Date: 21-10-2020
Notification No. 07/2020 – Central Excise
Notification regarding exemption of duties of Central Excise against scrips issued under the RoSL scheme for apparel and made-ups sectors

Date: 20-10-2020
Notification No. 37/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, regarding the rate of duty of customs on imports of "Polybutadiene Rubber" originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement.

Date: 15-10-2020
Notification No. 99/2020 - Customs (N.T.)
Exchange rate Notification No.99/2020-Cus (NT) dated 15.10.2020- regd.

Date: 13-10-2020
Trade Notice No. 30/2020-2021-DGFT
Electronic filing and Issuance of Preferential Certificate of Origin (CoO) for India’s Exports under GSP, GSTP, India-Malaysia CECA, India-Singapore CECA w.e.f. 15th October 2020

Date: 13-10-2020
Notification No. 30 /2020 -Customs (ADD)
Seeks to amend notification No. 48/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of “Plain Medium Density Fibre Board of thickness 6mm and above” originating in or exported from China PR, Malaysia, Sri Lanka & Thailand, for a period of three months i.e. upto 20th January, 2021.

Date: 09-10-2020
Notification No. 39/2015-2020
Amendment in Export Policy of Onions

Date: 08-10-2020
Circular No. 44/2020-Customs
Procedure for inspection of ICDs/CFSs/AFSs -reg

Date: 08-10-2020
Notification No. 50/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001