Iran regards Modi as a role model: Dharmendra Pradhan

5 Dariya News

New Delhi 16-May-2016

Ahead of Prime Minister Narendra Modi's visit to Iran later this week, Petroleum Minister Dharmendra Pradhan on Monday said that Iran, in line with many developing countries, regards Modi as a role model.In an interview to mark two years of the Modi government, Pradhan told the ETV News Network that Iran "is a fan of Modi's development model" and both countries are interested in investing in each other's development"."Iran follows the Modi model," he said, adding that while many developing countries see Modi as a role model, even developed countries expect a lot from him and are quite impressed by his leadership quality and personality.Energy cooperation is expected to dominate the agenda of Modi's two-day visit to Tehran from May 22. India will also take up the proposal for allowing ONGC Videsh Ltd (OVL) to develop the Farzad B gas field in Iran. OVL, along with Oil India and Indian Oil, had invested about $100 million in Farzad-B gas field, but production could not be started owing to the international sanctions on Iran on the nuclear issue.

The Indian government recently approved a credit of $150 million from the Exim Bank for development of Iran's Chabahar Port.Pradhan said that oil and gas production in India had improved as a result of a lot of policy decision taken by the government in the last two years. Besides, there is a lot of potential in the east coast and the Krishna Godavari Basin and the government is going to give more emphasis in these areas.He also said that a long-delayed refinery would soon be set up in Rajasthan, as well as "many other industries", about which he had already held meetings with Chief Minister Vasundhara Raje."Now, we are waiting for the green signal," he said.