Iranian Ambassador to India Gholam Reza Ansari said New Delhi is highly interested in investing in the Islamic Republic’s oil, gas and petrochemical industries.
Addressing the opening ceremony of P4 Expo India in Greater Noida on Wednesday, Ansari pointed to the new atmosphere created after the recent implementation of a nuclear deal between Iran and six world powers, saying that with the economic sanctions against Tehran now lifted, Indian companies should grasp the good opportunities for investment and closer cooperation with the Islamic Republic in different areas, including oil and gas industries.
“Iran-India cooperation in upstream and downstream sectors of the oil industry has a long record and the two countries can boost this cooperation in the new era,” he noted. “India is willing to cooperate and invest in downstream sectors of Iran’s oil industry, particularly petrochemicals and chemical fertilizers,” Ansari added.
The International Trade Show and Conference on Plastics, Petrochemicals, Printing and Packaging, also known as P4 Expo India, opened on Tuesday, April 5, and will last until Friday April 8 in Greater Noida on the outskirts of New Delhi.
There has been growing interest in trade and economic ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion over the text of a nuclear agreement and started implementing it on January 16. The comprehensive nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions imposed on Iran.