Economy, Domestic Economy

India Mulling Reverse SEZ in Iran

India Mulling Reverse SEZ in IranIndia Mulling Reverse SEZ in Iran

India has decided to launch a ‘reverse special economic zone’ in Iran, India’s Minister of Chemicals Fertilizers, Ananth Kumar, said on Wednesday as reported by IRNA. The Indian initiative refers to a concept through which Indian chemical and petrochemical companies will be encouraged to set up plants in other countries to manufacture basic raw materials. In a meeting with Gholamreza Ansari, Iran’s ambassador to New Delhi, the Indian minister said: “New Delhi is determined to launch a reverse SEZ in Iran for producing high quality fertilizers and chemicals that can compete at the international level.” He further said that a common teamwork comprised of Iranian and Indian experts are to investigate the possible grounds of mutual cooperation.