Iran Interested in Trade Ties With India’s Odisha

EghtesadOnline: Moved by the industrial climate and opportunities available in Odisha, Iran has evinced interest in investing in the Indian state.

News ID: ۷۸۲۰۸۰

14 March 2018

Interested in exploring possibilities in pharmaceutical, food processing and mineral sectors, a delegation of 14 members from Iran Small Industries and Industrial Parks Organization are on a six-day tour to the eastern state. They will study the feasibility and discuss with government officials on the facilities provided by the state to attract foreign investment and extend trade ties, the newspaper The New Indian Express reported.

The delegation, comprising executives from a consortium of eight industries and led by the Board of Directors’ Chief of Caspian Industrial Estate Mohsen Rezaei, met Chief Secretary Aditya Prasad Padhi on Wednesday.

They discussed industrial policies of the state, which can benefit investors from Iran, home to 68 types of minerals, including chrome, lead, zinc, copper, gold and tin. Besides exploring investment opportunities, ISIPO is also targeting trade ties and exchange of technology with their Indian counterpart during its first-ever visit to India. It has put up 10 stalls displaying various food products, traditional art and craft at the Odisha MSME International Trade Fair, according to Financial Tribune.

Rezaei said Odisha is a potential state for them for investment in micro, small and medium enterprises sector and trade links.

“It has vast opportunities for food processing and pharmaceutical industries. We are exploring possibilities and would be happy for tie-ups for exchange of both raw materials and finished products,” he said. Though there is no immediate plan of the delegation to go for field visits, Rezaei, who also represents the Takvin Export Consortium, said while a part of the delegation is managing the stalls, the other part is moving around the city and interacting with the people for market study.

“The chief secretary has agreed to send a delegation from Odisha to visit the industrial parks in Iran. We hope there will be a good trade link with the state (Odisha). Since the state is rich in bauxite, there is possibility of investment in aluminum and allied sectors,” he added.

Apart from eight industries from Iran, three companies from South Korea, one from Germany and eight companies from Bangladesh are also participating in the trade fair.