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Iran's Nanotechnology Sector Achieves Over approximately $885 million in Annual Sales with Global Reach

Iran's Nanotechnology Sector Achieves Over approximately $885 million in Annual Sales with Global Reach


The Iran Nano & Micro Technologies Innovation Council (INIC) stated that the sales volume of domestically produced nanotechnology products has experienced an annual growth rate of over 100% in recent years, amounting to over approximately $885 million last year.

 December 09, 2024  Industrial

According to the Communications and Information Center of the Vice-Presidency for Science and Technology, during a visit to the Iran Tractor Manufacturing Group, it was noted that the group's supportive perspective serves as a driver of the country's knowledge-based capacities. It was stated that "Iran Tractor Manufacturing acts as a driving force for national knowledge networks, with its dynamic, supportive, and developmental approach paving the way for the integration of knowledge-based industries into the economic sphere."

It was added that the developmental outlook on science and knowledge at Iran Tractor Manufacturing is not limited to its direct mission or economic domain. Instead, the group's openness to scientific collaboration with a national perspective makes it a model for other industries and sectors.

The INIC highlighted that actions by industries such as Iran Tractor Manufacturing in the knowledge-based and nanotechnology fields have enabled economic growth in these sectors. It was emphasized that the sales volume of domestically produced nanotechnology products has grown by over 100% annually in recent years, reaching approximately $885 million last year.

It was stressed that 9.2% of last year’s nanotechnology product revenue, equivalent to $145 million, came from export markets, representing a 110% growth. These exports reached 49 countries across all five continents, with Iraq, Turkey, Afghanistan, India, and China being the primary destinations. Construction and electronics products topped the list of exported nanotechnology products, with laboratory equipment among these exports even being sent to the U.S., albeit under third-country branding. Tax credits to support nanotechnology projects have also been implemented domestically.

It was pointed out that tax credits arising from scientific activities and investments by companies and industries have been operationalized. Last year, several significant research projects worth multiple billions of dollars were defined in the country, with over approximately $885 million specifically related to nanotechnology. Consequently, the expenses of these investments are deducted from the taxes paid by industries, companies, and investing entities.

The CEO of the Iran Tractor Manufacturing Group, in a statement during the visit of the INIC, noted that Tractor Manufacturing collaborates with over 1,000 suppliers and 80 knowledge-based and academic entities across the country. It was stated that these collaborations ultimately lead to the growth and development of the industry and economy, contributing, in the broader perspective, to ensuring food security for the nation.

It was added, "The strategic policies of Tractor Manufacturing are geared towards fostering relationships with academic, scientific centers, and grassroots organizations. Efforts have been made to leverage the capacities of these centers in technological chains, enabling the modernization of technology and the realization of research findings."

It was emphasized that Tractor Manufacturing supports scientific ideas to develop industry and democratize production, adding, "In these mutual collaborations, Tractor Manufacturing and its shareholders have adopted a flexible approach to support research projects that have stalled due to financial challenges or a lack of investors. Through this support, young, aspiring scientists are provided opportunities to contribute to the country’s growth and development."
 

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