CII sends business delegation to Iran

BANGALORE, INDIA: To explore specific business opportunities for Indian businesses, to engage Indian and Iranian businessmen in meaningful interactions and to find ways and means to enhance bilateral economic, trade and investment cooperation between both the countries, Confederation of Indian Industry (CII) is organizing a 10 member business delegation to Iran from October 6 to 8, 2009.

Apart from ICT, the sectors identified by CII for the cooperation are, SME and biotechnology, pharmaceuticals, automobiles and components, fertilizers, petrochemicals, energy, mining, iron and steel and banking and financial services, to name a few, said a press release.

The delegation visit coincides with the Tehran International Fair, one of the largest international exhibitions organized by the Iran International Exhibitions Company (IIEC) and Industrial Development & Renovation Organization (IDRO).

India-Iran trade and commercial relations are dominated by Indian import of Iranian crude oil. The total volume of bilateral trade between two countries amounted to $12591.92 million during April-08- February 09 registering an increase of 30.61 per cent as compared to $11767.01 million in April 07-February 08.

Besides visiting Tehran International Fair, the delegation members will meet with Iran Chamber of Commerce, Industries and Mines, Tehran Chamber of Commerce, Industries and Mines, The Organisation for Investment, Economic & Technical Assistance of Iran (OITETAI), Chairman of the Board of Industrial Development & Renovation Organisation (IDRO), Ministry of Electricity, Department of Customs, Department of Foreign Trade, Ministry of Commerce, Iran Small Industries and Industrial Parks Organisation (ISIPO) and others, added the release.

The delegation will be led by Vijay R Kiloskar, chairman and managing director, Kirloskar Electric Company Ltd.