New Delhi: Vice President of the Iran-India Joint Chamber of Commerce, Mahdi Rangrona on Friday signed a Memorandum of Understanding (MOU) with the Director General and CEO of Federation of Indian Export Organizations, Ajay Shai.

The two signed the MoU to strengthen trade, investment, quality standards and technology transfer.

Taking on their social media 'X', Iran in India stated, "Mr Mahdi Rangrona, Vice President of Iran-India Joint Chamber of Commerce & Dr Ajay Shai Director General & CEO of @FieoHq (Federation of Indian Export Organizations) Signed MOU to develop cooperation in the fields of investment, trade, quality standards, & technology transfer."

However, last month, Prime Minister Narendra Modi held talks with Iranian President Seyyed Ebrahim Raisi and discussed matters of bilateral and regional importance.

The two leaders reiterated their commitment to further strengthen bilateral cooperation, including to realise the full potential of Chabahar Port as a connectivity hub.

"Prime Minister highlighted that India- Iran relationship is underpinned by close historical and civilizational connections, including strong people-to-people contacts," Prime Minister's Office said in a press release.

In September last year, PM Modi held a meeting with Ebrahim Raisi on the sidelines of SCO Summit in Samarkand. The two leaders spoke about the growing friendship between India and Iran.

Taking to X, formerly known as Twitter, PM Modi stated, "Held wide-ranging discussions with President Ebrahim Raisi. We talked about the growing India-Iran friendship and the scope to boost ties in sectors like energy, commerce and connectivity."