The two sides agreed on cooperation in the fields of energy, infra-structure, banking, consular services, trade and tourism.
Tayyebnia said that the agreement is outcome of activities of three working groups in trade, energy and infra-structure which can have effective assistance on development of bilateral cooperation.
He said that India interested in development of Chabahar Port and construction of railway network to connect to Central Asian countries.
Tayyebnia said that agreement on banking and insurance cooperation are among important articles of the agreement.
He expressed pleasure with signing the agreement and said that it can remove obstacles and existing problems on the way of trade and commerce between the two countries.
According to the agreement, Pasargad and Parsian banks will open branches in Mumbai and New Delhi and Saman Bank will also do banking activity in India independently.
An Indian bank will also open a branch in Iran.
Iran’s Ambassador to India Gholamreza Ansari said that the agreement would serve to develop cooperation between India and Iran considering the new situation in the region and the world.
He said that Iran and India will go ahead with good economic cooperation after implementation of JCPOA.
Tayyebnia arrived in New Delhi on Friday heading a delegation from Ministry of Roads and Urban Development, Ports, Central Bank and Petroleum Ministry to attend joint economic commission meeting.
He met with Prime Minister Shri Narendra Modi and Sushma Swaraj on Monday afternoon and discussed bilateral relations and regional and international cooperation