India to boost investment in Iranian oil and gas sectors

TEHRAN: India and oil-rich Iran today decided to significantly expand engagement in their overall ties, particularly in boosting Indian investment in joint ventures in oil and gas sectors in the Persian Gulf nation where foreign investors from major economic powers are rushing in to get early footholds after lifting of nuclear sanctions.

In talks between External Affairs Minister Sushma Swaraj and her Iranian counterpart Mohammad Javad Zarif, the two sides agreed that pending agreements such as Preferential Trade Agreement, Double Taxation Avoidance Agreement and Bilateral Investment Treaty should be concluded on a priority basis to spur trade and investment.

Enhancing energy cooperation and development of the Chabahar port were the centerpiece of talks which was mostly dominated by economic issues. "The talks were very successful and would give new energy to our centuries old ties with Iran. In particular, the economic partnership will get considerable fillip as a result of today's forward looking talks," Ministry of External Affairs Spokesperson Vikas Swarup told PTI

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