IRANIAN INDUSTRY AND MINES MINISTER MEETS STEEL MINISTER SHRI TRIPATHY

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Mr. Eshaq Jahangiri, Minister for Industry and Mines, Iran today met the Union Minister for Steel Shri Braja Kishore Tripathy and discussed the bilateral issues on Iron and Steel Industry. Mr. Jahangiri said Iran is rich in mineral resources and the country is encouraging foreign investments for further growth. He mentioned that the investors are allowed to repatriate the profits.

The Steel Minister said that Steel Industry in India has stood the test of post liberalization ups and downs and now ready to face a free and open market. Iran has been a trade partner of India and Kudrumukh Iron Ore Company was set up to supply iron ore to Iran. The growth in steel sector in India during the last two years has been spectacular and the industry encourages foreign investment to accelerate growth process. Shri Tripathy assured all cooperation to Iranian Industry and hoped that the mutual cooperation would benefit both the countries.