19659
Iranian Bank, Indian Fund Form Joint Venture
Economy, Business And Markets

Iranian Bank, Indian Fund Form Joint Venture

Pradip Shah's IndAsia Fund Advisors and Iranian Middle East Bank have formed a joint venture to explore investment opportunities between India and Iran.
The deal comes ahead of the June 30 deadline for a possible accord between the six world powers and Iran, which both sides hope to end a 12-year nuclear dispute and terminate the economic sanctions against Tehran.
The new venture is called MEB-IndAsia Corporate Advisors Pvt. "It will advise companies on trade and investment opportunities between Iran and India," Shah, founder of IndAsia, a boutique investment bank said, The Economic Times reported on Monday.
The venture hopes to enlist Indian companies to do business in Iran, which has a population of 78 million. Iran has the capacity to pay with its oil production capacity of four million barrels per day; however, it is currently pumping much less than that.
Iran has $8.8 billion of interest-free funds lying idle in India because of the sanctions. These could possibly be a source of foreign direct investment in India that the venture hopes to tap, the report said.
"Iran will offer exciting opportunities for trade and investment soon, as a framework for lifting sanctions is expected to be signed between the US and Iran by June 30," said

Short URL : http://goo.gl/ISG7mO

You can also read ...

Support for  Forex Measures
The head of Competition Council welcomed efforts made by the...
The looming crisis in the emerging markets, set off by the run on the Turkish lira, has had a more direct impact on the Iranian rial than anything the US has claimed.
Since the beginning of the fiscal 2018-19, the Iranian rial...
CBI: Currency Inflow Growing Steadily
Governor of the Central Bank of Iran said on Saturday that...
UK Firm: Progress Made With Iran Airport Contract
UK-based security solutions supplier Westminster Group said it...
Yu Chang Hwang (L) and Mohammad Reza Bakhtiari
South Korea’s new ambassador to Iran, Yu Chang Hwang, said...
Without Waivers, US Sanctions on Iran Will Cripple Iraq
Iraqi officials, struggling to form a new government months...
Uber in Talks to Buy Food-Delivery Company
Uber Technologies Inc. is in early talks to buy food-delivery...
Watermelon Exports  Exceed $100m
Iran exported 569,974 tons of watermelon worth $106.42 million...

Trending

Googleplus