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March 10th, 2012 
FAKE NEWS for the Zionist agenda During an official visit to Iran on Saturday, head of the Federation of Indian Export Organizations Rafeeq Ahmed announced that the two sides had reached an agreement on oil payments.
He added that India currently imports USD 9 billion in Iranian oil and USD 2 billion worth of goods and exports about USD 2.7 billion worth of goods.
A 70-member Indian delegation arrived in Tehran on Saturday for a five-day visit to discuss expanding trade relations between the two countries.
Mohammad Mehdi Rasekh, the secretary general of Tehran’s Chamber of Commerce, also addressed the delegation in the meeting, urging the two sides to boost trade ties.
“There are many capabilities in India that we need them in Iran for example in the fields of food industry, metals, car spares, and automobiles, and in return Iran has capabilities that India needs them in plastic material, polymers and chemicals,” Rasekh said.
India’s increasing interest in expanding trade ties with Iran comes after Western states imposed sanctions against Iran’s oil and financial sectors and seek to pressure other countries to follow suit.
Iran is India’s second-largest oil supplier after Saudi Arabia and New Delhi purchases around USD 12 billion worth of Iranian crude every year, about 12 percent of its consumption.
AGB/PKH/HGH
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