Middle East's largest steel producer urges India to grant market access to Iranian firms

Tehran [Iran], May 1 (ANI): The Middle East's largest steel producer, Mobarakeh Steel Group, has urged the Indian government to grant market access to Iranian companies in the world's fastest-growing major economy.

Speaking exclusively to ANI on the sidelines of the Iran Expo, Abouzar Alvandi, Export Head for Far East and Middle Asia at Mobarakeh Steel Group, said, "India is the world's second-largest steel producer. With India undergoing rapid infrastructure expansion, we request the Indian government to facilitate Iranian companies by granting them a small share in the steel import market."

"We are neighbours, and this cooperation could help both countries. We seek only a minor share to export steel or other goods needed by the Indian people. This will help us continue our business, despite the sanctions imposed on Iran. We specifically request access to export semi-finished products, such as steel slabs, to the Indian market," Alvandi added.

Mobarakeh Steel Group is the largest steel producer in the Middle East and North Africa (MENA) region and the world's leading producer of Direct Reduced Iron (DRI). The company supplies over 50 per cent of Iran's steel, catering to key sectors including automotive, construction, household appliances, and packaging.

Alvandi highlighted the impact of US and European Union sanctions on Iranian exporters. "Due to these restrictions, we face difficulties in financial transactions, particularly through the SWIFT system. As a result, we're often forced to export indirectly via third-party traders instead of directly to end users, who fear being blacklisted under US sanctions," he said.

He also pointed to logistical challenges, especially in maritime shipping. "Very few ship owners are willing to work with Iranian companies or send vessels to Iranian ports, which severely hampers our operations," he noted.

On the significance of the Iran Expo, Alvandi said, "Events like this offer a vital platform for Iranian companies to showcase their products and explore global opportunities, especially with neighbouring countries. This is the 7th edition of the Iran Expo, and it plays a key role in connecting Iranian exporters with international importers." (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)