Iran Ready to Expand Economic Ties with India, Says Petroleum Minister

New Delhi, June 25: Iran has expressed its willingness to deepen economic engagement with India, with Iranian Petroleum Minister Mohsen Paknejad stating that Tehran is prepared to expand cooperation across various sectors, particularly in the economic domain.

Paknejad arrived in New Delhi to participate in the BRICS Energy Ministers’ Meeting, where energy security, sustainable development and cooperation among member nations are expected to dominate discussions. During his visit, the Iranian minister is also scheduled to hold a series of bilateral meetings with Indian officials and stakeholders from the energy industry.

Highlighting the long standing relationship between the two countries, Paknejad said Iran and India share centuries-old ties that continue to provide a strong foundation for future cooperation. He noted that the current visit offers an opportunity to explore new avenues of partnership and strengthen existing economic linkages.

The minister said discussions during the BRICS forum and separate bilateral engagements would help identify areas where the two nations can work together more closely. He emphasized that Iran remains open to enhancing economic collaboration with India and is keen to pursue mutually beneficial initiatives.

A key focus of the visit will be cooperation in the oil and natural gas sectors. Officials are expected to discuss prospects for expanding energy trade, attracting investments and exploring new opportunities for collaboration in upstream and downstream energy projects. The two sides are also likely to exchange views on recent developments in global energy markets and their implications for energy importing and exporting nations.

Paknejad also referred to ongoing international discussions concerning sanctions on Iran, indicating that certain understandings had been reached that would guide future developments. However, he stressed that the primary purpose of his visit was to engage with BRICS partners and strengthen economic and energy related ties.

The visit comes amid renewed diplomatic engagements between India and Iran. Earlier this week, Dr. Ghadir Nezamipour, Deputy Secretary of Iran’s Supreme National Security Council, met Prime Minister Narendra Modi in New Delhi following a meeting of BRICS national security advisers and heads of security agencies.

According to the Iranian Embassy in India, the meeting reflected the continued dialogue between the two countries on issues of mutual interest and regional importance. The interaction underscored the significance both nations attach to maintaining regular high-level exchanges across strategic, economic and security domains.

Observers believe Paknejad’s visit could provide fresh momentum to Iran-India economic cooperation, particularly in the energy sector, which has historically been a cornerstone of bilateral relations. As both countries seek to strengthen engagement through multilateral platforms such as BRICS, discussions held during the visit are expected to contribute to broader regional and economic cooperation.

With energy demand continuing to rise and global markets undergoing rapid transformation, closer collaboration between India and Iran could open new opportunities for investment, trade and long-term energy security, further reinforcing the enduring partnership between the two nations.