New Delhi: Union Finance Minister Nirmala Sitharaman met Iranian Minister of Economic Affairs and Finance Seyed Ali Madanizadeh in New Delhi and discussed avenues for strengthening economic cooperation between India and Iran.
Sitharaman thanked Iran for its active participation in the BRICS Summit and for its constructive engagement in deliberations under the BRICS Finance Track. The two ministers exchanged views on economic and financial issues of mutual interest.
India and Iran have traditionally maintained important economic ties, with cooperation spanning trade, connectivity, energy and infrastructure. Iran is also an important partner for India in developing the Shahid Beheshti terminal of Chabahar Port, which is aimed at strengthening regional trade and connectivity. India’s exports to Iran include items such as rice, tea, sugar and pharmaceuticals, while key imports from Iran include dry fruits and chemical products. (Ministry of External Affairs)
The discussions also assume significance in the context of India’s BRICS chairship in 2026, with the grouping placing greater emphasis on facilitating trade and investment, strengthening cross-border payment systems and promoting cooperation in local currencies. BRICS Finance Ministers and central bank governors have also backed efforts to make cross-border payments faster, safer and more cost-effective. (Reuters)
The meeting underlined the shared interest of India and Iran in deepening economic engagement, trade facilitation and financial cooperation, while exploring new opportunities for mutually beneficial partnerships.