Investigating mechanisms to strengthen trade interactions between Iran and India by utilizing BRICS capacities

At the outset of his tenure, India’s new ambassador to Iran visited the Tehran Chamber of Commerce and met with its president. During the meeting, both sides highlighted the economic potential and history of cooperation between Iran and India, emphasizing the need to revitalize and expand trade relations and leverage the opportunities offered by BRICS. Furthermore, the agenda included establishing a schedule for private-sector trade dialogues, organizing specialized training courses, exchanging business delegations, and creating a direct communication channel to follow up on and implement agreements.

India’s new ambassador to Iran visited the Tehran Chamber of Commerce at the start of his tenure to meet with its president. During the meeting, both sides highlighted the economic potential and history of cooperation between Iran and India, emphasizing the need to revitalize and expand trade relations and leverage the opportunities offered by BRICS. Additionally, the agenda included establishing a timeline for private-sector trade dialogues, organizing specialized training courses, exchanging trade delegations, and creating a direct communication channel to follow up on and implement agreements.

 

Vishwesh Negi, the new Indian ambassador to Iran, met with Mahmoud Najafi-Arab, President of the Tehran Chamber of Commerce. The meeting was attended by Fereydoun Verdinejad (Secretary-General), Hesamoddin Hallaj (Deputy for International Affairs and Trade Development), and Zeinab Davoudi (India Desk Expert at the Ministry of Foreign Affairs), alongside representatives from the Indian Embassy’s commercial section. Beyond discussing mechanisms to strengthen bilateral economic cooperation, Negi identified increasing mutual understanding and synergy among private-sector stakeholders as a key strategy for expanding trade ties between Iran and India.

 

At the start of the meeting, Mahmoud Najafi-Arab highlighted the historical background of cultural and economic exchanges, as well as the shared membership of Iran and India in BRICS. He spoke of the necessity to expand bilateral interactions, noting that the Tehran Chamber has recently joined the BRICS Business Council; representatives from the Chamber had also recently attended a BRICS Business Council meeting in India, where they presented their views on various trade-related issues. The President of the Tehran Chamber of Commerce announced the Chamber's readiness to expand cooperation with India's private sector, stating that Iran and India possess significant potential to develop economic ties in areas such as pharmaceuticals and raw materials, food and agricultural products, and industrial inputs and raw materials. However, the current volume of bilateral trade—approximately $1.5 billion—falls far short of this existing potential. The private sectors of both nations can pave the way for deepening economic relations and achieving a sustainable increase in bilateral trade by strengthening commerce, joint investments, and industrial cooperation.