India approves deal with Iran in medicine, agriculture

The latest round of agreements signed between the two countries cover the fields of health and medicine, fiscal policies, agriculture and allied sectors and traditional medicines

March 14, 2018

Partnership in health and medicine will cover training of healthcare professionals, setting up of healthcare facilities as well as innovation and regulation in pharmaceuticals, medical devices and cosmetics.

The agreement on the avoidance of double taxation and prevention of fiscal evasion with respect to income taxes will stimulate exchange of investment, technology and personnel between India and Iran.

The deal in the field of agriculture and allied sectors covers areas of crops, agricultural extension, horticulture, machinery, post harvest technology, plant quarantine measures, credit and cooperation.

The cooperation in the field of traditional medicine will focus on further enriching the countries’ rich traditions of herbal medicines, while supporting potential collaborations in research ad innovation.

India’s Union Cabinet, chaired by Prime Minister Narendra Modi, has cleared the latest round of agreements reached between India and Iran, according to an official statement on March 14th. The deals, signed during the state visit of Iranian President Hassan Rouhani to India in February 2018, cover the fields of health and medicine, fiscal policies, agriculture and allied sectors and traditional medicines. The deals are expected to boost cultural and economic exchanges between the countries. A working group will be set up to elaborate on the details of cooperation and oversee the deal implementations.

Partnership in the field of health and medicine will cover: (1) Training of medical doctors and other health professionals; (2) Assistance in development of human resources and setting up of health care facilities; (3) Regulation of pharmaceuticals, medical devices and cosmetics and exchange of information; (4) Cooperation in the field  of medical research, new technologies, innovation and knowledge based initiatives; (5) Public health, Sustainable Development Goals (SDGs), and cooperation in international health. The partnership will also include any other mutually decided area of further cooperation.

The agreement on the avoidance of double taxation and prevention of fiscal evasion with respect to income taxes will stimulate exchange of investment, technology and personnel between India and Iran. The agreement will also provide for exchange of information between two contracting parties in any deal as per the latest international standards. This will improve transparency in tax matters and help curb tax evasion and tax avoidance cases. The proposed agreement also meets treaty related minimum standards under the G-20 OECD Base Erosion & Profit Shifting (BEPS) Project, under which India is participant.

The cooperation in the field of agriculture and allied sectors covers areas of crops, agricultural extension, horticulture, machinery, post harvest technology, plant quarantine measures, credit and cooperation. The deal, initially valid for five years, also provides for cooperation in soil conservation and water management, integrated nutrients management, seed technology and agricultural marketing. Livestock improvement, dairy development, animal health and other fields as mutually agreed upon fall within the scope of this deal. Cooperation will also cover exchange of experts, technology and information.

The cooperation in traditional medicine will focus on further enriching the countries’ rich traditions of herbal medicines, while supporting potential collaborations. Moreover, Iran has endorsed India as a leader in the field of Traditional Systems of Medicine. This is backed by the Indian Government’s proactive measures to increase investments and activities in the field. The Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH) has taken effective steps by entering into deals with China, Malaysia, Trinidad & Tobago, Hungary, Bangladesh, Nepal, Mauritius and Mongolia for cooperation in traditional medicine. Another agreement is proposed to be signed with Sri Lanka.

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