NEW DELHI: With US sanctions squeezing Indian firms trading in Iranian petroleum and petrochemicals, Tehran has a message for Indian businesses: “Both sides are determined to strengthen economic relations and to find practical ways to ensure the continuation of bilateral trade.“Iran’s ambassador to India, Mohammad Fathali, told TOI that sanctions and payment disruptions had dented trade and “the prices of some goods in Iran have increased for common people,” but ruled out “essential shortages,” including Indian basmati rice, a major Indian export to Iran, saying Tehran had prepared for disruptions and had multiple import channels. “We do not expect these challenges to lead to shortages of essential goods, including Indian basmati rice,” Fathalisaid, adding that price rises reflected wider economic pressures rather than supply shortages.Amid US sanctions on Indian firms over Iranian petroleum trade,Iran’s ambassador to India urged Indian businesses to continue and expand trade with Tehran, acknowledging that sanctions and payment disruptions had reduced bilateral trade “to some extent”.Iran’s ambassador also pitched the country’s energy market to Indian firms, saying Tehran was ready to engage companies interested in the sector. “Any company that wishes to operate and trade in Iran’s energy market can benefit from the opportunities available in this market,” Fathali said.Citing room to expand cooperation in energy, agriculture and essential goods, he said: “We welcome all Indian companies to expand their trade cooperation with Iran.”Iran is among the biggest buyers of Indian basmati as well as tea outside India, but he said there is no need to fear “essential shortages”, as Iran had prepared for disruptions and supplies still move through regular channels.After 47 years under sanctions, Iran had learnt to blunt their impact, he said, pointing to advances in nanotechnology, biotechnology and other fields.Asked whether concrete measures were being discussed to protect bilateral trade from US sanctions, Fathali said communication with Indian partners was continuing. “Selecting and implementing such measures requires expert discussions and the necessary coordination between the relevant parties,” he said, adding that both sides were determined to find practical ways to sustain trade.Pointing to Iran’s experience under sanctions, Fathali said its strategic location and 15 neighbouring countries offered opportunities to diversify trade and economic partnerships. He said Tehran would continue seeking practical solutions to protect its economic interests and maintain mutually beneficial trade relations.“There are various ways to support bilateral trade in the face of challenges arising from sanctions… Options are reviewed and pursued in line with the existing circumstances and available capacities.”
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The govt, he added, was working to protect livelihoods, sustain production and ensure basic supplies: “The people of Iran…weathered many storms and crises throughout its history…deserve a better life, along with economic stability and prosperity.”On Chabahar port, whose US sanctions waiver for Indian operations expired on April 26, Fathali reaffirmed Tehran’s commitment to developing the strategic gateway, which gives India access to Afghanistan and Central Asia. Iran also welcomed investment from beyond India, saying it was open to participation by “any country interested in contributing to the development” of the port.On renewed talks with Washington, he said Tehran had never shied away from dialogue, but trust remained shattered: “On all three occasions when we entered into negotiations with the United States, war followed… Iran seeks negotiations to achieve a genuine result, not to provide another opportunity for pressure to be imposed on the country.”
