India will begin talks with Iran regarding the fair trade agreement, when the United States has become hostile towards the Persian Gulf nation, making use of threats with new sanctions after abandoning the nuclear agreement with the country.
As for the first round of formal negotiations on a preferential trade agreement (PTA) between India and Iran will be made in August, according to people with knowledge of the matter.
Such an accord will see the two giving duty concessions to each other’s goods, enabling greater market access for India’s pharmaceutical, rice and auto component exports.
“We are making our wish lists,” said one of the officials. “The first round of text-based negotiations will take place in a month or two.”