March 28, 2017 1005 GMT
"Iran ranks second in the world in terms of gas reserves and we will soon invest in exploration of Farzad-B gas field," Kumar said on Saturday, addressing Iran-India Trade Conference in Tehran.
Referring to the India's debts to Iran, the Indian envoy said, "The Indian government intends to pay back its $6.5 million debt to Iran as soon as the banking system allows us to do so."
The Indian ambassador also said that setting up the North-South Corridor and launching a transit route between Iran, Afghanistan and India are among other issues which will help the development of transit lines.
In a relevant development in early April, the Indian Minister of Petroleum and Natural Gas Dharmendra Pradhan said New Delhi is planning to invest some $20 billion for development of energy and petrochemical projects in Iran's Chabahar Port.