Mr. Eshagh didn't disclose the size of the deals, but said both nations were looking to step up annual trade to $24 billion in the medium term from $14 billion now.

In February, Iran agreed to accept payment in Indian rupees for up to 45% of its oil exports to India, and the countries have set up a credit window between Indian and Iranian state-owned banks. That means Tehran has to find Indian exports to buy with the rupees it earns.

An Indian delegation of exporters traveled to Iran earlier this year to showcase products.

Transactions in the Iranian rial and in Indian rupees through the credit window already have begun, Mr. Eshagh said.

http://online.wsj.com/article/SB10001424052702304070304577393671154450382.html

There are sanctions in place against that rogue state, you know?

India's Prime Minister Manmohan Singh? Tuesday, in a joint press conference with President Mahmoud Abbas in New Delhi, reiterated India’s full support of the struggle of the Palestinian people to achieve a sovereign and independent state of Palestine with East Jerusalem as its capital, living within secure and recognized borders side by side and in peace with Israel.

He said that support of the Palestinian cause has been always part of the Indian foreign policy. “India has played an active role in supporting the efforts of the state of Palestine to secure full member ship status at UNESCO” and “We will continue to support Palestine’s full and equal membership at the United Nations.”

Singh said that he looks forward to the resumption of peace talk between Palestinians and Israelis, leading to a comprehensive resolution between the two sides.

He announced that the government of India will contribute $10 million to PA’s budget to help address the Palestinian financial crisis.

http://english.wafa.ps/index.php?action=detail&id=20655