39013
India Raises Iran Credit to $450m
Economy, Domestic Economy

India Raises Iran Credit to $450m

India's cabinet on Wednesday raised a credit line to Iran to $450 million as New Delhi aims to boost trade ties with Tehran after the lifting of international sanctions.
The credit line, to be extended by the country's lending arm for the export of goods and services, will help in supplying steel rails to Tehran, Routers reported in a dispatch.
State-run Steel Authority of India Ltd and private firm Jindal Steel and Power Ltd have signed a deal with Iran to supply 250,000 tons of steel rails worth 17 billion Indian rupees ($255 million) in 2015.
But supplies have not begun pending New Delhi's finalizing of the credit line.
India's Exim Bank and a consortium of Iranian banks led by the Central Bank of Iran struck a deal in 2014 for financing exports from India worth 9 billion rupees.
The increased credit line will help Indian companies gain a foothold in Iran, the government said in a statement.
In February, India approved a $150 million credit line for the development of Iran's Chabahar port.

Short URL : http://goo.gl/iv2ifR
  1. http://goo.gl/9yCSts
  • http://goo.gl/F6zZq6
  • http://goo.gl/OSO3Ov
  • http://goo.gl/qWMZ2s
  • http://goo.gl/uFK7mL

You can also read ...

US Sanctions on Iran Affect Trade With UAE
The latest US sanctions against Iran are forcing many Iranian...
New Government Policies Reduce Forex Demand
The implementation of new foreign exchange policies by the...
Failure to Safeguard Iran Deal Will Show EU Still a Paper Tiger
Just a few weeks ago, it seemed that the Iran nuclear deal...
Iraq to Respect Dollar Ban But Not All US Sanctions on Iran
Iraqi Prime Minister Haider al-Abadi stepped back from his...
Indian Tea Exporters Seeking Special Exchange Rate From Iran
The Indian tea industry has sought a special exchange rate...
Gold Coin Gains
The benchmark Bahar Azadi gold coin gained on Tuesday, as both...
Nvidia Rolls Out New Chip Technology for Filmmakers
Nvidia Corp on Monday released a new generation of chips aimed...
Google Tracks Your Movements, Like It or Not
Google wants to know where you go so badly that it records...

Trending

Googleplus