Iran and India have agreed to expand their cooperation in number of key sectors.
Meanwhile, Western powers today said, they are committed to the Iran nuclear deal.
Responding to media queries, External Affairs Ministry spokesperson Raveesh Kumar said: "India has always maintained that Iranian nuclear issue should be resolved peacefully through dialogue and diplomacy by respecting Iran's right to peaceful uses of nuclear energy and worldwide community's strong interest in exclusively peaceful nature of Iran's nuclear program".
"If the deal is destroyed then of course Iran would get a theoretical freedom of action, including the capability to develop nuclear weapons and to realize all programs tied with this main one". "At this stage, I can share with you that the government will take all necessary measures which are required to safeguard our interests".
Asked whether the United States sanctions will hit the Chabahar port project, Mr Kumar said it was too early to analyse and come up with conclusions about implications of USA withdrawal from the nuclear deal.
On Wednesday, India had said that all the parties concerned should engage constructively to resolve the Iranian nuclear issue peacefully.
Zarif explained Iran's stance on the USA decision to withdraw from the accord.
Iran has said, it would restart uranium enrichment if the agreement could not be salvaged.
President Hassan Rouhani has said Iran will for now stay in the nuclear deal, and that the Foreign Ministry will be negotiating with the European countries, Russia, and China in the weeks to come before making any decision about the future of the deal.
However, under the terms of the JCPOA, Iran had pledged to co-operate with the IAEA to answer its concerns over the "possible military dimensions" of its nuclear programme.
Later, India, Iran and Afghanistan signed a trilateral pact providing for transport of goods among the three countries through the port.
The United States covers about a quarter of the regular budget and has volunteered an additional $US3 million for Iran inspections since 2015, the U.S. official said.