An Indian official heading a visiting business delegation lauded relations between Iran and India as conducive for the entire region, the website of state IRIB TV reported on Sunday.

"Holding discussions at regular intervals on bilateral economic and political cooperation will be beneficial not only to Iran and India but also for peace and security of the region and the world, " Rashid Alvi, the spokesperson of the Indian Congress, who is leading the 80-member delegation, was quoted as saying.

Iran, as a long-standing friend to India, has made considerable progress in all sectors and is a promising country which India hopes to boost ties with, said Alvi.

Reciprocal flow of investments will enhance bilateral trade and the outcome will also boost the political relationship between the two friendly nations, he added.

The global financial crisis has shown that there was no choice but to strengthen regional cooperation to minimize the impact, the report quoted him as saying.

Head of Iran's Chamber of Commerce, Industries and Mines, Mohammad Nahavandian, said on Saturday that the Indian economy provides a good opportunity for Iran to cooperate and interact with the country.

Iran sells to India some 13 billion U.S. dollars worth of oil annually but only imports about 2.5 billion U.S. dollars worth of goods from India. Refusing to join the West-sponsored sanctions against the Islamic republic over its controversial nuclear program, India has an opportunity to increase its exports to Iran in the absence of Iran's former economic partners.