India should boost Iran economic ties despite sanctions: Business Expert

An Indian business expert says India should disregard illegal US-engineered sanctions imposed on the Islamic Republic and continue to strengthen economic ties with Iran.

“Irrespective of the pressure from the West, India needs to pursue its economic ties with Iran and other important countries in the Middle East,” President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) Rajkumar N Dhoot said Thursday.

“We will continue to build bridges between the businesses of the countries,” Dhoot added in a statement.

According to an ASSOCHAM report released on Thursday, India’s exports to Iran grew by 17 percent from April to June 2012, reaching USD705.8 million.

The reports added that a major part of India’s exports to Iran comprises agricultural items including basmati rice, tea, sugar and soybean.

The United States, Israel and some of their allies have repeatedly accused Iran of pursuing non-civilian objectives in its nuclear energy program, with the US and the European Union using this allegation as excuse to impose international and unilateral sanctions against the Islamic Republic.

Iran refutes the West’s allegation and argues that as a signatory to the Non-Proliferation Treaty and a member of the International Atomic Energy Agency (IAEA), it is entitled to develop and acquire nuclear technology for peaceful purposes.