It says its missiles are defensive and used for deterrence and has rejected talks over its missile programme.
Meanwhile, one member of Iran's Revolutionary Guards was killed and five were wounded in an attack on a base in southeastern Iran on Saturday, Iranian media reported. A U.N. Security Council resolution called on Iran to stop work on ballistic missiles capable of carrying a nuclear warhead for a period of up to 8 years.
In recent weeks, the argument between Iran and European nations over Tehran's missile program has increased.
It is part of the Soumar group of cruise missiles, first unveiled in 2015 with a range of 700 kilometres, according to the minister.
Interim budget FY20: Middle-income earners welcome IT relief
Goyal further announced an increase in standard tax deduction for salaried employees from the current Rs 40,000 to Rs 50,000. Shalini Jain, Partner, EY India: "Anyone with net taxable income up to Rs 5 lakh will not be paying any taxes".
Trump pulled out of the Iran nuclear deal and reimposed sanctions on Tehran a year ago.
Washington says although Iran has met the terms, the accord was too generous, failing to rein in Iran's ballistic missile programme or curb what the United States says is interference in regional affairs.
"In Iran today they... are trying to boast about the new missile".
Western experts say Iran often exaggerates its weapons capabilities, although there are concerns about its long-range ballistic missiles.
Huawei's CFO Meng requests change in sureties for bail conditions
The robot, developed in 2006, helped spot problems in phones before they hit the market by mimicking how people actually use them. Huawei also is charged with using a Hong Kong front company, Skycom, to trade with Iran in violation of USA controls.
Amir Hatami, underlining that the Islamic Republic of Iran is improving day by day the ability to defend and ensure national security and interests and does not ask anyone's permission in this regard, said "Hoveizeh" long-range cruise missile is a symbol of self-confidence and an important defense achievement representing the climax of global technological advancement.
The Hoveizeh cruise missile was test-fired and managed to accurately hit targets at a distance of 1,200 kilometers, he said. The sanctions have crippled Iran's economy, although US allies were given time to reduce their dependence on Iranian oil.
Iran insists that its ballistic missile program was not part of the 2015 deal with the U.S., France, Britain, Germany, China and Russian Federation.
The resolution called upon Tehran to refrain for up to eight years from work on ballistic missiles created to deliver nuclear weapons.
China Trade Talks Kick-Off
The Chinese delegation will be led by Vice Premier Liu He, a close economic adviser of Mr Xi, and central bank governor Yi Gang. Critics dismissed Beijing's commitments as vague, and Trump backed away from Mnuchin's deal and chose to proceed with tariffs.
But Tehran denies seeking any nuclear weapons capability, and insists that its missile development programme is "purely defensive" and compliant with the resolution. Iran will be forced to make a "strategic leap" if European or other countries try to limit its missile might, Brigadier General Hossein Salami, the second-in-command of the Islamic Revolutionary Guard Corps, has said.