The Iranian minister of foreign affairs said Tehran would welcome investments by Indians in Iran"s oil, gas and petrochemical projects.

Speaking in New Delhi, Mohammad Javad Zarif said Iran and India were in talks in this regard, adding, "We are always ready for talks with India and welcome proposals from this country."

"We are optimistic that Iran and India, despite the illegal US sanctions, would be able to work together to secure the interests of their nations and the region," he told an Indian news agency.

The official further described the economies of Iran and India and being complementary to each other, saying that the two could cooperate in various fields as they need goods and services provided by each other.