Indian Delegation to Visit Iran for Business Talks
TEHRAN (Tasnim) – India's Union Minister Nitin Gadkari will soon lead a delegation to Iran in a bid to explore business opportunities in the Islamic Republic following the July 14 nuclear agreement between Tehran and world powers.
"We are in negotiations with Iran on gas prices. I will soon lead a delegation to Iran with investment proposals after consulting the Prime Minister," Gadkari said on Tuesday, dnaindia reported.
"Their Foreign Minister (Mohammad Javad Zarif) had visited us. I had told him that I will come to you within a fortnight with proposals. I could not go because we want to go with a bigger proposal with investment plans of other ministries, too," he added.
The visit will take place amid negotiations between the two countries on gas price for a urea plant to be set up in Iran.
Gadkari said if Iran agrees to the pricing proposal, India will see a significant decline in the country's Rs 80,000-crore subsidy for urea and a slash in its prices by 50 percent.
Following the conclusion of nuclear talks between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, European business executives and politicians are shuttling to Iran to lay the groundwork for investment and trade.
The comprehensive nuclear deal between Iran and the six powers would terminate all nuclear-related sanctions imposed on Iran after coming into force.