New Delhi : India’s participation in the recently concluded 23rd Iran Agro Food and Food Bevtech fair held in Iran (May 30 to June 2, 2016) assumes a special significance in the backdrop of recent Iran visit of the Prime Minister of India and the bilateral Chahbahar deal to boost regional connectivity and re-energise the International North – South Trade Corridor (INSTC).
The fair was organised by the India Trade Promotion Organisation (ITPO).
These projects aim to bring India closer to Eurasian Economic Union (EAEU) comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. After the lifting of international sanctions, Iran is now open for Indian companies for business.
As many as 36 leading Indian companies highlighted a range of food items including basmati rice, sesame and cumin seeds, cocoa items, whole egg power, yolk powder, dairy products, beverages – included instant drinks, processed and frozen vegetables, whole spices, honey, wheat and its by-products, gums and additives, spices, papad, etc.
In the Bev Tech segment, around 12 companies showcase bagging machines, water pump sets for domestic and sewage use, tube ice plant, pasteurizers, inspection mirrors, automatic liquid filling machines, hospitality industry, separators, insert folding and outer systems.
The Iranian food market is one of the most important ones in the entire Middle East. According to the World Trade Organisation (WTO), Iranian food imports have gone up with an annual growth rate of 9.4 percent between 2009 and 2013 making up for USD 13.14 billion in 2013. Iranian food exports amounted to USD 5.222 billion. Thus, food trade with Iran now stands for an USD 18.362 billion business. Hundreds of hotels and thousands of new restaurants are to be opened all over Iran, business and tourist travel in meant to escalate in the years to come. (ANI)