INDIA, IRAN READY TO BARTER TEXTILES FOR OIL
May 1st, 2013
A PRELIMINARY deal to barter Indian textile products for Iranian oil has been signed between representatives of these two industries, India’s Textile Association president D. R. Mehta has told just-style. And now, a detailed agreement between the two governments will follow, he said.The pact is mutually beneficial. As a result “India’ s textile exports [to Iran] are expected to double to USD500 million in three years from USD250 million in the fiscal year ending March 2012,” he said. Textile machinery has also been included in the draft deal: Mr Mehta ...
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