Millennium Post

Iranian minister wants more Indian companies in his country

Iranian minister wants more Indian companies in his country
The Iranian minister for power, Majid Namjoo, on Wednesday urged India’s private corporate sector to step up its presence in his country by taking advantage of the structural reforms that have recently seen privatisation of 100 energy-related companies.

Addressing an interactive meeting with Indian industry representative, organised by FICCI here on Wednesday, Namjoo said that the sanctions against Iran were directed at the governmental level and had nothing to do with the private sector.

‘In fact, we are paying greater attention to facilitating the private investments and that creates a big opportunity for Indian companies to step in,’ he said.

Namjoo said the Iranian Ministry of Energy currently has cooperation agreements with 23 companies and ‘we are trying hard to make our our companies competitive in terms of prices and quality. It is here that we are looking for cooperation with India.’

R V Kanoria, president of FICCI, said, ‘The discontinuation of subsidies on electricity [by Iran] had reduced electricity consumption by 2 per cent, reversing a previous annual growth of 8 per cent in the country's energy bill.’      


TRADE TIES


  • Iranin minister Majid Namjoo said that the sanctions against Iran were directed at the governmental level and had nothing to do with the private sector
  • Namjoo said the Iranian Ministry of Energy currently has cooperation agreements with 23 companies

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