EghtesadOnline: Iran's Foreign Minister Mohammad Javad Zarif is in India to attend the annual Raisina Dialogue organized by think-tank Observer Research Foundation and meet with top Indian officials, including Indian Prime Minister Narendra Modi and External Affairs Minister Sushma Swaraj.
EghtesadOnline: The US embargo on Iran's oil shipments has put Indian Prime Minister Narendra Modi in a quandary. If he plays along, India could find itself on the right side of US President Donald Trump on trade, but lose cheap supplies and precious foreign exchange. Oil imports from Iran totaled about $9 billion in the year ended March and substituting some of the contracts with more North American crude will help India lower the $24.5 billion trade surplus it runs with the world’s largest economy, Bloomberg reported.
EghtesadOnline: US Ambassador to the United Nations Nikki Haley on June 27 told India’s Prime Minister Narendra Modi that Washington would back his country’s plan to develop the Iranian seaport of Chabahar to open up a trade route to Afghanistan that avoids its arch-rival Pakistan.
EghtesadOnline: India’s Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday gave its ex-post facto approval to the memorandum of understanding between India and Iran on the establishment of an expert group for taking trade remedy measures to promote cooperation in areas of mutual interest.
EghtesadOnline: Iranian President Hassan Rouhani and Indian Prime Minister Narendra Modi signed nine bilateral agreements, including an 18-month lease of part of the Iranian port of Chabahar, near the Pakistan border, to India for an $85 million development project during a meeting in New Delhi on Feb. 17.
EghtesadOnline: Iranian President Hassan Rouhani is on a visit to India this week, repaying a trip by Prime Minister Narendra Modi to Tehran in 2016. Before leaving Tehran, Rouhani said relations between the two nations were historical and deep-rooted, and in his first day in India -- in the city of Hyderabad -- on Thursday he went further to emphasize warm relations between Tehran and New Delhi, saying, “Iran and India enjoy historic and cultural relations that are beyond mere political and economic relations,” hinting at an approach rooted in idealism in international relations, especially with India, rather than one rooted in mere realism.
EghtesadOnline: India and Iran signed 15 agreements in the presence of Iranian President Hassan Rouhani and Indian Prime Minister Narendra Modi in New Delhi on Saturday.
EghtesadOnline: Nirmala Sitharaman, who was appointed as India’s first woman defense minister in 35 years, has her task cut out. Deliver on Prime Minister Narendra Modi’s goal of modernizing the nation’s Soviet-era military equipment as border tensions with neighbors China and Pakistan simmer.
EghtesadOnline: New Delhi must work with the government of President Hassan Rouhani to ensure that bilateral irritants in fostering economic ties between the two nations are resolved soon, reads an article published by the US-based think-tank Eurasia Review. According to Financial Tribune, excerpts follow:
EghtesadOnline: Prime Minister Narendra Modi’s ability to turn enemies into allies is expected to help kick start controversial labor and land reforms as he expands his authority over the majority of India’s states.