Iran is the most reliable energy provider for India and will not allow any consideration to impede the relationship between the two countries, Iranian Foreign Minister Mohammad Javad Zarif has said.

"No economic power can tell us you cannot have relationship with India. This can give you confidence on the partner you are choosing," Zarif said addressing an India-Iran business forum organised by CII on Tuesday.

Referring to the US and US President Donald Trump, the Minister said the challenge facing bilateral relationships came from one single country, and more specifically one individual, with all countries being asked to violate a UN Security Council resolution of continuing trade ties with Iran.

Zarif said the "arbitrary" decision of a single country was already affecting economic interests. "We provide a third of urea fertiliser to India. Today Indian farmers are paying 38 per cent more because of the arbitrary decision by an individual. Is this the future we want?" he asked.

India imports about $10 billion of oil from Iran annually, but purchases have declined following the re-imposition of economic sections by the US against the Islamic nation.

India has been given a waiver by the US to continue oil imports from Iran till April 2019, but it is expected to progressively reduce its imports.

India and Iran are re-activating their rupee-payment mechanism to continue bilateral trade during the sanction period.

The Iranian Foreign Minister said Iran had prospered despite several decades of sanctions and would continue to do so.

"India was on our side in the past. We never forget people on our side, when better times come. And I assure you better times will come," he said.

The Minister is heading an Iranian business delegation to India.

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