Addressing a seminar on “India and Iran: Ancient civilisations and modern nations”, he said: “We would like Iranian investment in India, especially in the oil and gas sectors. Iran is a very important producer of hydrocarbons and we are a major consumer. There could be mutually beneficial long-term arrangements, including our agreement on supply of LNG or the proposed IPI gas pipeline project.”

He recalled that in the past both countries had successfully collaborated in setting up the Madras Refinery Project, the Kudremukh Iron Ore Project and the Madras Fertiliser Project, besides the Irano-Hind Shipping Company.

Mukherjee emphasised that New Delhi’s foreign policy will remain independent and guided by the interests of its own people even while it strengthens ties with the US, Russia, China or any emerging economies of Asia, Latin America and Africa. He said that there was a “fundamental principle of independence and freedom of thought and action”. He added: “we are open to all counsel and manner of views, but our assessments and policies are ours alone.”

Talking about “common neighbour” Pakistan, Mukherjee said that in recent years India has pursued a policy of “positive and substantial engagement” with Islamabad.

On Afghanistan, he said that India has had a history of friendly relations with the country and it is actively engaged in the reconstruction and development of Afghanistan. He also said that India has “long-standing” ties with Iraq. “We wish to see the Iraqi people freely determine their political future and exercise control over their natural resources.”