INDIA'S STAND ON ISRAEL AND IRAN IS..
Wednesday, December 12, 2012
India, Iran finalize rupee as trade currency
Tehran Times - 12 December, 2012
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The Indian rupee has been made the official currency for trading between India and Iran. It has also been decided that UCO Bank will be the official bank for transactions.
Following this conclusion after a long debate, Pharmaceutical Export Promotion Council of India (Pharmexcil) is organising a business delegation trip to Tehran from December 17-19, 2012 in order to boost pharma exports between the two countries.
The total pharma market in Iran is $ 3.2 billion, divided between generics (contributing $ 1.78 billion), patented drugs ($ 1.13 billion) and OTC drugs ($ 0.36 billion).
Commenting on this latest development, Dr PV Appaji, Executive Director, Pharmexcil said, “The Government of India is keen on improving pharma exports to Iran. After a long debate, both the countries have agreed that rupees is going to be the official currency for trading purpose. India imports huge quantities of oil from Iran and the Government of India is thus trying to balance trade between both the countries.”
-- IMRA - Wednesday, December 12, 2012 India, Iran finalize rupee as trade currency
Wednesday, December 12, 2012
India, Israel May Work Together on More Weapons
Dec. 12, 2012 - 04:43PM By VIVEK RAGHUVANSHI Defense News
India, Israel May Work Together on More Weapons | Defense News | defensenews.com
NEW DELHI — India and Israel are discussing broader cooperation in joint weapon development, with India also seeking to purchase and produce the Iron Dome short-range surface-to-air missile defense system.
Indian Defence Secretary Shashi Kant Sharma and the visiting director general of Israel’s Defense Ministry, Maj. Gen. Udi Shani, discussed the pace of weapon projects being developed jointly and possible new programs during talks on Dec. 3-4.
Israeli diplomats in India and Israeli government and industry officials declined to comment on the issue.
Apart from ongoing medium-range and long-range ballistic missile programs, which cost a combined $2 billion, the two countries are building a variety of missiles, including a ground-to-ground land attack missile. That missile is publicly described as a project of India’s Defence Research and Development Organisation (DRDO), but it is actually a joint effort with Israel, according to sources.
Increasing the range of the land attack missile from 1,000 to 3,000 kilometers also was discussed, the source added.
-- IMRA - Wednesday, December 12, 2012 India, Israel May Work Together on More Weapons
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