TEHRAN, Feb. 17 (Xinhua) -- Iran and India on Saturday expressed readiness to expand comprehensive relations, Iran's state TV reported.

The comments were made in a meeting between Iranian President Rouhani and Prime Minister Modi in the Indian capital on Saturday.

"There are sizeable capacities for the development of Iran and India's relations," Rouhani said, adding that both countries are determined to deepen their ties in all cultural, economic, and commercial areas.

Rouhani pointed to mutual investment in the southern Iranian port city of Chabahar by Iran and India as well as Afghanistan as a means of turning it into a trade hub.

Chabahar could reinforce Iran and India's historical ties by serving as a bridge connecting the subcontinent to Afghanistan, Central Asia, and Eastern Europe, he said.

"We are ready to sign bilateral and trilateral agreements to turn the transit route passing through Chabahar into a strategic pathway serving the reinforcement of regional ties," he was quoted as saying by Press TV.

Iran can provide India with its energy needs by entering into long-term strategic agreements, he added.

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

For his part, the Indian prime minister said 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.

Chabahar "can change the trade relations game across the region and the world," he said, noting that India had already begun exporting its goods, including wheat, to Afghanistan via the Iranian port city.

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