Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Prabhu Proposes to Double Bilateral Trade with Iran Despite US Sanctions Cloud

US imposed sanctions on the Persian Gulf country and also told India and other countries to cut oil imports from Iran to zero by November 4 or face sanctions.

PTI

Updated:September 7, 2018, 9:09 PM IST
facebookTwitter Pocket whatsapp
Prabhu Proposes to Double Bilateral Trade with Iran Despite US Sanctions Cloud
File photo of Commerce Minister Suresh Prabhu.

New Delhi: Commerce and Industry Minister Suresh Prabhu Friday proposed to double bilateral trade with Iran in the next five years from the current level of $13.8 billion, an official said.

The official also said Prabhu's scheduled visit to Tehran on October 2 has been postponed for some reasons.

He was to attend the ministerial meeting of the International North South Transport Corridor.

Ways to boost trade and investment between the two countries were discussed during a meeting between Prabhu and Iranian Minister of Road and Urban Development Abbas Ahmad Akhoundi here.

The meeting assumes significance as the US has imposed sanctions on the Persian Gulf country. The US has also told India and other countries to cut oil imports from Iran to zero by November 4 or face sanctions.

After the meeting of the two ministers, Prabhu tweeted: "Our discussions were centered on expanding bilateral ties between India and Iran beyond the energy and security sector."

Federation of Indian Export Organisations (FIEO) President Ganesh Gupta had recently said the government needs to look into the problems being faced by exporters shipping consignments to Iran in view of the US sanctions.

Iran is India's third-largest oil supplier after Iraq and Saudi Arabia. Iran supplied 18.4 million tonnes of crude oil between April 2017 and January 2018 (first 10 months of fiscal 2017-18).

Bilateral trade between India and Iran increased to $13.8 billion in 2017-18 from $12.9 billion in the previous fiscal. However, India's exports goods worth only $2.65 billion to that country, while the imports stood at $11.11 billion.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Padmaja Venkataraman
Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
ICICI Bank 528.10 -0.22
Zee Entertain 300.05 6.65
Reliance 1,550.85 -0.12
Yes Bank 62.10 -1.43
SBI 336.20 -1.65
Company Price Change %Gain
Yes Bank 62.10 -1.51
HDFC AMC 3,200.85 -3.85
Zee Entertain 300.20 6.78
Infosys 714.65 0.91
Reliance 1,550.30 -0.14
Top Gainers
Company Price Change %Gain
Zee Entertain 300.05 6.65
TCS 2,121.30 2.06
ITC 246.95 1.56
Larsen 1,302.20 1.33
Britannia 3,082.90 1.10
Company Price Change %Gain
TCS 2,121.50 2.04
ITC 246.90 1.54
Larsen 1,301.65 1.28
Infosys 714.65 0.91
Tech Mahindra 764.70 0.80
Top Losers
Company Price Change %Gain
JSW Steel 251.45 -3.21
Coal India 196.40 -3.13
Bharti Airtel 447.35 -3.05
Tata Steel 399.80 -2.32
IndusInd Bank 1,509.75 -2.24
Company Price Change %Gain
Bharti Airtel 447.20 -2.96
Tata Steel 399.65 -2.31
IndusInd Bank 1,509.85 -2.21
Tata Motors 166.10 -1.95
Hero Motocorp 2,396.60 -1.76

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results
Listen to the latest songs, only on JioSaavn.com