India’s DGFT supports electronics exports to Iran.

India’s Directorate General of Foreign Trade says the country’s rupee-denominated electronics exports to Iran would get as much support as those in other major currencies.

DGFT has assured the producers of the Electronic and Computer Software Promotion Council (ESC) that their rupee-denominated trade with Iran will receive similar incentives as those in dollars or other major currencies, Indian Express reported on Tuesday.

India has followed the sanctions imposed on Iran by the United Nations but has not agreed with the new bans on trading with Iran imposed by the US and the EU.

“There exists scope for export to Iran a number of items from the software and hardware baskets, which that country was importing from third countries,” said D. K. Sareen, the executive director of ESC.

He went on to say that the opportunities for the Indian software-makers in Iran include fields such as education, e-governance, finance, oil and gas.

Sareen expressed hope that Iran could be a hub for software and hardware exports from the South Asian country for penetrating further into the Commonwealth of Independent States (CIS) countries.

New Delhi’s growing interest in expanding its trade ties with Tehran comes as the Western powers recently adopted fresh sanctions against Iran's oil and financial sectors, and have ever since sought to pressure other countries to follow suit.

On New Year’s Eve, the United States imposed new sanctions against Iran aimed at preventing other countries from importing Iranian oil and conducting transactions with its central bank.

European Union foreign ministers also approved sanctions against Iran’s oil and financial sectors on January 23, including a ban on Iranian oil imports, a freeze on the assets of the country’s central bank within the EU states, and a ban on selling grains, diamonds, gold, and other precious metals to Tehran.

Source : presstv.com