Iran N-deal a hope for gas pipeline: FICCI

The landmark nuclear deal reached between major world powers and Iran will lead to an increase in oil exports from the West Asian nation to India, and may revive the long-pending gas pipeline projects involving the two countries, industry body FICCI said on Tuesday.“We will, in time, see an increase in exports of Iranian crude oil to India and the world and India-Iran trade scaling newer heights. This nuclear agreement also has the potential to revive the long-pending gas pipeline projects from Iran to India,” FICCI president Jyotsna Suri said.

Major powers and Iran struck a historic deal on Tuesday aimed at ensuring Tehran does not acquire a nuclear bomb, in return for relief from crippling sanctions, diplomats said.“We hope Iran is able to expedite the recovery of its crude export capacity following the easing of sanctions and continue its valuable contribution to the fulfilment of India’s energy needs,” Suri added.

Iran’s arch-foe Israel quickly lashed out at the agreement, which Prime Minister Benjamin Netanyahu described as “a historic mistake for the world”.

The breakthrough came on the 18th day of talks in Vienna between Tehran and P5+1 grouping, which consists of counties — Russia, China, Britain, France, Germany and the US.