Mumbai: Iranian President Mahmoud Ahmadinejad today called upon India to join a peace alliance with Tehran and fill the power vacuum in the region, Iranian news agency IRNA reported.

''The Islamic Republic of Iran's approach to relations with India is a long-term one. There is no limit for promoting Tehran-New Delhi ties on bilateral, regional and global levels," Ahmadinejad remarked at a meeting with visiting Indian National Security Advisor MK Narayanan.

The  Iran-Pakistan-India gas pipeline project could emerge as a 'Peace Pipeline' project once it was finalised and made operational, the Iranian president said.

"Iran and India, should bolster mutual ties, making themselves prepared for major developments worldwide and filling up the power vacuum in the region," Ahmadinejad said.

The two countries could have helpful and constructive cooperation in fighting drugs and terrorism, establishing the north-south corridor and maintaining regional security, he said.

Narayanan, who also met secretary of Iran's supreme National Security Council Saeed Jalili said the Indian prime minister and the government were keen to follow up all agreements reached during official talks earlier, particularly in the field of Iran-Pakistan-India gas pipeline project.

Jalili said Tehran's package of proposals presented to the Big 5+1 aimed at addressing concerns and challenges in the region and the entire world.

Both sides have agreed to explore grounds for joint regional and international cooperation and set up a joint committee to follow up latest and new agreements, SNSC sources said.

Iranian and Indian officials have also drawn up an action plan for security cooperation as well as creating new opportunities for expansion of mutual and international exchanges.

Stating that the era of unipolar world has come to an end, Jalili said Iran and India, as two important regional powers, need to utilise their potential for further cooperation.

Since Tehran and New Delhi pursue common interests they should further improve relations at various levels and make every effort to put previous agreements into operation, Jalili said.

The two sides also agreed to form a joint committee tasked with facilitating the implementation of bilateral deals

Iran had on Tuesday indicated that it may be willing to change the delivery point of gas it wants to sell to India through a pipeline passing through Pakistan.

"We are open to suggestions (on the delivery point)... We can accommodate them," Iranian oil minister Gholam-Hossein Nozari told reporters after meeting petroleum minister Murli Deora on the sidelines of the 19th world petroleum Congress in Madrid.

India wants the delivery point for handing over custody of gas at the India-Pakistan border and not at Iran-Pakistan border, as had been suggested by Tehran, to cut transit risk through Pakistan.

If Iran's stated position was accepted, the issue of ownership of gas while transiting through Pakistan has to be addressed and settled.

"I am happy to learn that India and Pakistan have settled their outstanding issues. We now hope the two nations will decide fast and conclude contracts," Nozari said, indicating that the three sides may meet soon.