AIAI welcomes the withdrawal of International sanctions on Iran. Consequently, India will now be able to resume its oil and gas trade with Iran. Besides, the removal of sanctions would help develop newer markets for trade and investments and this is an advantageous time for India to penetrate into the Iranian market which is also close to India, said Vijay Kalantri, President – All India Association of Industries (AIAI).
Iran’s open market holds great promise and comes at the right time when global markets are opening their doors for trade and investment.
What’s more, besides making it possible for Iran to trade with other countries, it also grants economic and financial autonomy to the country. Moreover it is expected to generate new opportunities in crude oil, gas, textiles, petrochemicals, steel, power etc.
In addition, the lifting of sanctions will also help in eliminating the hurdles faced by the banking system and ensure the ease of doing business with Iran.
AIAI also feels the Indo-Iran dream project of Oil and Gas pipeline between the two countries will also be able to see the light of the day, which will further facilitate investment opportunities.