a) whether India is considering to sign a Preferential Trade Agreement (PTA) with Iran;
b) if so, the details thereof;
c) whether any talks have been held between the two countries in this regard;
d) if so, the details and the outcome thereof; and
e) the details of benefits likely to accrue to India as a result thereof?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (INDEPENDENT CHARGE)
(SMT. NIRMALA SITHARAMAN)
(a) to (d): In the 17th Session of the Joint Commission between India and Iran held in May, 2013, it was agreed to commence preliminary consultation between the concerned Ministries of both sides for a Preferential Trade Agreement(PTA).
In the first meeting of Joint Working Group on Trade and Commerce held in April, 2015 in Tehran, both sides agreed to examine the scope and the feasibility of entering into a PTA. In the second meeting of the Joint Working Group held on 18-19 November, 2015 in New Delhi both sides agreed, inter-alia, to open up a channel for exchange of information, etc for this purpose.
(e) Bilateral trade agreements are aimed at boosting trade for mutual benefit.
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