Persian Gulf Nation

An Indian consortium is willing to spend as much as $11 billion to develop a giant Iranian natural gas field and build the infrastructure to export the fuel as long as the Persian Gulf nation guarantees a "reasonable return" on the project, according to the company leading the group.

Indian Oil Corp, the nation's biggest oil firm, has raised crude oil import from Iran to four fold and has cleared most of the past payments as sanctions against the Persian Gulf nation were eased.

China will align its maritime silk road project with Sri Lanka's development plans to enable the island nation to become a shipping hub in the Indian Ocean. The silk road is seen as a way of encircling India and controlling port access along sea lanes linking the energy-rich Persian Gulf and economic centers in eastern China.

India today lifted ban on export and import of certain items from Iran, following lifting of sanctions against the Persian Gulf nation by the US and other western powers in January.

The government on Wednesday lifted a ban on export and import of certain items from Iran, following lifting of sanctions against the Persian Gulf nation by the US and other western powers in January.

India will invest billions of dollars in setting up industries - ranging from aluminum smelter to urea plants - in Iran's Chabahar free trade zone after it signed a pact to operate a strategic port on the Persian Gulf nation's southern coast.

Lifting of international sanctions on Iran has opened up immense opportunities and India is looking to expand cooperation with the Persian Gulf nation in sectors such as trade, investment, infrastructure and energy, Prime Minister Narendra Modi said today.

Prime Minister Narendra Modi will embark on a visit to Iran this month with an aim to bolster overall bilateral ties with the Persian Gulf nation in a range of areas including energy, trade and investment and connectivity.

Keen to step up engagement in hydrocarbon sector with Iran, India has conveyed to the Persian Gulf nation that it was ready to clear nearly $6.5 billion of the dues for oil import from that country at the earliest, provided there was clarity on payment channel.

Iranian oil accounted for about 6.2 per cent of New Delhi's overall imports in the last fiscal year with the Persian Gulf nation improving its ranking by a notch to emerge as the sixth biggest oil supplier to New Delhi.

External Affairs Minister Sushma Swaraj arrived in Iran today on a two-day visit to boost ties with a focus on raising India's oil imports and enhancing trade with the powerful Persian Gulf nation which has opened several lucrative sectors after sanctions against it were lifted under a historic nuclear deal.

External Affairs Minister Sushma Swaraj will embark on a two-day visit to Iran tomorrow with an aim to step up engagement in a range of areas including oil and trade as the strategically important Persian Gulf nation is now ready to resume business as usual after lifting of sanctions under a historic nuclear deal.

Iran, no longer under sanctions, has ended free shipping of crude oil to India and has terminated a three-year old system of getting paid for half of the oil dues in rupees.

India will on October 12 pay another $700 million to Iran to clear part of past oil dues - the second payment since the Persian Gulf nation reached a historic nuclear deal with western powers.

India on October 12 will pay another USD 700 million to Iran to clear part of past oil dues, the second payment since the Persian Gulf nation reached a historic nuclear deal with western powers.

An Indian consortium is willing to spend as much as $11 billion to develop a giant Iranian natural gas field and build the infrastructure to export the fuel as long as the Persian Gulf nation guarantees a "reasonable return" on the project, according to the company leading the group.

Indian Oil Corp, the nation's biggest oil firm, has raised crude oil import from Iran to four fold and has cleared most of the past payments as sanctions against the Persian Gulf nation were eased.

China will align its maritime silk road project with Sri Lanka's development plans to enable the island nation to become a shipping hub in the Indian Ocean. The silk road is seen as a way of encircling India and controlling port access along sea lanes linking the energy-rich Persian Gulf and economic centers in eastern China.

India today lifted ban on export and import of certain items from Iran, following lifting of sanctions against the Persian Gulf nation by the US and other western powers in January.

The government on Wednesday lifted a ban on export and import of certain items from Iran, following lifting of sanctions against the Persian Gulf nation by the US and other western powers in January.

India will invest billions of dollars in setting up industries - ranging from aluminum smelter to urea plants - in Iran's Chabahar free trade zone after it signed a pact to operate a strategic port on the Persian Gulf nation's southern coast.

Lifting of international sanctions on Iran has opened up immense opportunities and India is looking to expand cooperation with the Persian Gulf nation in sectors such as trade, investment, infrastructure and energy, Prime Minister Narendra Modi said today.

Prime Minister Narendra Modi will embark on a visit to Iran this month with an aim to bolster overall bilateral ties with the Persian Gulf nation in a range of areas including energy, trade and investment and connectivity.

Keen to step up engagement in hydrocarbon sector with Iran, India has conveyed to the Persian Gulf nation that it was ready to clear nearly $6.5 billion of the dues for oil import from that country at the earliest, provided there was clarity on payment channel.

Iranian oil accounted for about 6.2 per cent of New Delhi's overall imports in the last fiscal year with the Persian Gulf nation improving its ranking by a notch to emerge as the sixth biggest oil supplier to New Delhi.

External Affairs Minister Sushma Swaraj arrived in Iran today on a two-day visit to boost ties with a focus on raising India's oil imports and enhancing trade with the powerful Persian Gulf nation which has opened several lucrative sectors after sanctions against it were lifted under a historic nuclear deal.

External Affairs Minister Sushma Swaraj will embark on a two-day visit to Iran tomorrow with an aim to step up engagement in a range of areas including oil and trade as the strategically important Persian Gulf nation is now ready to resume business as usual after lifting of sanctions under a historic nuclear deal.

Iran, no longer under sanctions, has ended free shipping of crude oil to India and has terminated a three-year old system of getting paid for half of the oil dues in rupees.

India will on October 12 pay another $700 million to Iran to clear part of past oil dues - the second payment since the Persian Gulf nation reached a historic nuclear deal with western powers.

India on October 12 will pay another USD 700 million to Iran to clear part of past oil dues, the second payment since the Persian Gulf nation reached a historic nuclear deal with western powers.