India has said it won't cut down its oil imports from Iran, apparently making it clear that it would not buckle to any pressure from the United States or western countries which have imposed sanctions on Tehran, local media reported Monday.

"It is not possible for India to take any decision to reduce the imports from Iran drastically, because among the countries which can provide the requirement of the emerging economies, Iran is an important country amongst them," Indian Finance Minister Pranab Mukherjee was quoted as saying during a visit to the United States on Sunday.

"We (India) imports 110 million tons of crude per year. We will not decrease imports from Iran. Iran is an important country for India despite U.S. and European sanctions on Iran," said Mukherjee.

The finance minister, who is currently visiting the United States, added: "Some other countries, Saudi Arabia, Nigeria, the other Gulf countries they also contribute but Iran contributes substantially."

India, the world's fourth-largest oil consumer, imports 12 percent of its petroleum products from Iran.