During his visit, Hosseini called on Prime Minister Manmohan Singh and also met Finance Minister Pranab Mukherjee and National Security Advisor Shivshankar Menon.
The proposed India-Iran Double Taxation Avoidance Agreement, which the two countries included in their joint New Delhi declaration in 2003, has run into a hurdle.
Trade links with Israel have strengthened in the past few years, even as the value of goods exchanged with Iran has diminished. Iran accounted for $3.9 billion worth of India's exports in the four quarters ending December 2019, compared to $3.6 billion to Israel. However, India's exports to Iran dropped to $1.2 billion as of December 2023, on a rolling four-quarter basis, while exports to Israel grew to $6.1 billion in the same period.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
Speaking at a programme in Kolkata on Tuesday night, he said that in the past, even the US has been appreciative of the fact that the Chabahar port has a larger relevance.
In the first high level contact since New Delhi voted against Tehran at the February 4 International Atomic Energy Agency meeting
Differences over pricing of gas has lead to postponement of the first ministerial tripartite meeting between India, Iran and Pakistan on the proposed over $ 7 billion pipeline from Iran.
The framework agreement will be finalised by the end of the year.
External Affairs Minister S Jaishankar on Monday held wide ranging discussions with Iranian counterpart Hossein Amirabdollahian in Tehran and their discussion focused on the long term framework for India's involvement with the strategically vital Chabahar port and the North-South connectivity project.
India and Iran on Monday decided to jointly combat terror, radicalism and cyber crime as the two strategic partners signed 12 agreements including a "milestone" pact on developing the key Chabahar port for which India will provide $500 million.
Invoking the age-old cultural bonds between India and Iran, Prime Minister Narendra Modi on Monday said it was time for the two countries to "march together" by regaining the "past glory" of historical ties
'Indian and Iranian sources both confirmed to me that India and Iran are moving ahead to implement a payment system on buying oil from Iran and hope to finalise it very soon,' says Aveek Sen.
A close examination of the Indian-Iranian relationship reveals an underdeveloped relationship despite all the spin attached to it. India would like to increase its presence in the Iranian energy sector because of its rapidly rising energy needs, and is rightfully feeling restless about its own marginalisation in Iran, says Harsh V Pant.
The trilateral alliance between India, Afghanistan and Iran on the strategic Chabahar port is a security threat to Pakistan, defence experts in Islamabad have said and asked the government to use diplomatic manoeuvres to avert falling into an "abyss of isolation".
US Senators want Obama administration to clarify what India's 12 agreements with Iran are all about.
The China-brokered deal between Iran and Saudi Arabia to revive diplomatic ties should not be a matter of concern for India as the pact would provide regional stability and would be beneficial for New Delhi's interests as well, Iranian ambassador Iraj Elahi said on Friday.
India and Iran have failed to seal a LNG-for-oil field deal with Tehran offering a "very high" price for the 5 million tonnes LNG it plans to sell to New Delhi.
It is the first visit to India by a senior minister of a member nation of the Organisation of Islamic Cooperation after the controversial remarks triggered anguish in the Arab world.
"I hope that now when the talks are set to begin with India, so the project would be definitely be on agenda," Petroleum Minister Naurez Shakoor told reporters in Islamabad.
India has been at the forefront of efforts at the UN to push for urgent long-pending reform of the Security Council, emphasising that it rightly deserves a place at the UN high table as a permanent member.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
India is likely to seal a LNG-for-oilfield deal with Iran this week wherein New Delhi will buy five million tonnes of liquefied natural gas from Iran in exchange of Tehran offering it a stake in an oil field.
The American Jewish Committee, in a letter to Ambassador Nirupama Rao, had said they were 'deeply troubled' by news reports of Indian efforts to intensify trade relations with Iran. Suman Guha Mozumder reports.
The Union Cabinet on Thursday gave its post facto approval to a memorandum of understanding between India and Iran on cooperation in the hydrocarbon sector.
Petroleum Minister Murli Deora after a meeting with his Iranian counterpart Gholam Hosein Nozari for talks on the $7.5 billion Iran-Pakistan-India pipeline project said there were 'some minor problems' which have been sorted out.
Bottlenecks persisted on the Iranian proposal for a gas pipeline to India through Pakistan.
Exporters are readying back-up routes to send their shipments to the nations belonging to the Commonwealth of Independent States (CIS), including Russia, as the war in Ukraine continues to intensify. Three routes are being explored. The first is the China route using Qingdao port. The second is the International North-South Transport Corridor (INSTC) route that connects Mumbai to Moscow via Iran and Azerbaijan.
Iran has offered to help India meet its energy needs by relaunching rupee-rial trade for export of oil and gas, said Iranian ambassador to India Ali Chegeni. Chegeni said if both the countries resume rupee-rial trade, bilateral trade can touch $30 billion. Iran used to be India's second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on its oil exports.
President George W Bush on Saturday said US has no problem with India-Pakistan-Iran gas pipeline but with Tehran's nuclear ambitions.
India and Iran plan to reach USD 25 billion in annual bilateral trade in the next four years, Indian commerce ministry has said.
The comment was in response to a June 19 Reuters story citing sources with knowledge of the matter as saying that India planned to clear some oil payments to Iran through the United Arab Emirates central bank.
External Affairs Minister S Jaishankar held wide-ranging talks with his visiting Iranian counterpart Hossein Amir-Abdollahian on Wednesday against the backdrop of widespread anger in West Asia over controversial remarks on Prophet Mohammed made by two former Bharatiya Janata Party spokespersons.
The Indian side expressed readiness to provide extensive humanitarian assistance to Afghanistan, Mujahid was quoted as saying by Afghanistan's Tolo News.
Iran has blamed Israel for carrying out an attack on its own embassy members in New Delhi to "tarnish Iran's friendly ties with India."
Iran on Tuesday said India had not been 'ousted' from the proposed $7-billion tri-nation pipeline, even as it set an August deadline for New Delhi to sign an agreement on the project.
