India has greatly increased its foreign income in recent years with the exportation of machinery and technicians to run it.
India has greatly increased its foreign income in recent years with the exportation of machinery and technicians to run it. One of the country's main trading partners in this area has been Iran, which has made wide use of Indian equipment and technicians in its oil industry. On Monday (23 August), the Indian Prime Minister, Indira Gandhi, met the Chairman of the National Iranian Oil Company (NIOC), Manoutcher Eghbal, who is on a short visit to India.
SYNOPSIS: The meeting took place at Parliament House in the Indian capital, New Delhi. Dr. Eghbal indicated during his discussions with Mrs. Gandhi that his company is looking for more oil experts and technicians and hopes that they could come from India. The oil industries of the two countries already have strong connections. In February 1975, Iran agreed to make additional supplies of crude oil available to India. It was also agreed that the madras Refinery, in which the NIOC was participating, would be expanded and its capacity increased. Since the signing of that agreement, both countries have maintained their close economic links.
Later on Monday, Dr. Eghbal met the Indian Foreign Minister, Yeshwantrao Chavan. The two men discussed the NIOC's continued participation in the Madras Refinery and another Indo-Iranian project at Madras for a fertiliser plant. India signed a contract with Iran in March this year for the supply of 150 million tonnes of iron ore over the next 20 years. An Iranian delegation is also studying the development of bauxite mining, alumina smelting and aluminium manufacture in India.
In the meantime, India is developing its own oil industry and hopes to be self-sufficient by the early 1980s.