Rouhani stressed that "Iran and India's ties are not to any country's detriment."

Meanwhile, the Indian prime minister said in the joint press conference on Saturday that many obstacles have been removed from the way of expanding bilateral economic relations.

He expressed hope that mutual investment projects to bear fruit and to accelerate the trend of growth in mutual ties.

"Indian companies are ready to further their investment in the areas of mutual cooperation, including oil and gas," Modi said.

Rouhani arrived in India on Thursday for a three-day official visit at the invitation of Modi.

India and Iran have friendly relations in many areas. There are significant trade ties, particularly in crude oil imports into India and diesel exports to Iran.

Iran is the second largest supplier of crude oil to India, supplying more than 425,000 barrels of oil per day, and consequently India is one of the foreign investors in Iran's oil and gas industry.

On May 22, 2016, Modi paid an official visit to Iran. The visit focused on infrastructure, energy and trade.

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