At the opening ceremony of the P4 Expo India 2016 on Tuesday which runs for five days, Ansari said the Indian corporations should take the existing opportunities that have been created after removal of anti-Iran sanctions on January 16 for cooperation with Iran.

Iran and India have long-lasting relations in up and downstream sectors, he noted, adding that the two countries can further develop those relations in new era.

He further referred to short distance between Iran and India as another element which helps foster bilateral cooperation.

Economies in Tehran and New Delhi are complementary, said the ambassador while referring to Iran as one of the biggest oil producers in the world, and India as one of world’s biggest energy consumers.

India is among Iran’s oil and gas customers. Indian minister of petroleum is to travel to Tehran in next few days to review ways to widen bilateral economic relations during talks with the Iranian officials.