Iran seeks $8 billion Indian investments

New Delhi: Iran has invited Indian investments to play a bigger role in US$ 8 billion of infrastructure projects like Chabahar port on an urgent basis over the next few months, before sanctions imposed on Iran are lifted, and European countries start investing in the country. The Iranian ambassador Mr Gholamreza Ansari commended India for maintaining a strategic relationship with Iran even during the period of sanctions, as result of which India is Iran’s second biggest consumer of crude oil. The overall impression about India and its leadership is positive in Iran due to business relations dating back to the period even before sanctions. As a result, the Iranian ambassador expressed hope that India would quickly capitalise on the opportunity window from now till 3 to 5 months post lifting of sanctions, after which European countries would enter the Iranian market. Specifically, development of projects like Chabahar port (agreed upon by Iran and India in 2003) which will benefit both Iran in infrastructure creation and India in terms of accessing energy‑rich central Asian economies, need to be expedited.                              

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