With the appointment of Alinaghi Alikhani as Minister of Economy in 1962, the policies adopted by this ministry, despite frequent frictions with the court, transformed the country's industrialization process. What later became known as the "Iranian Industrial Revolution" began at this historical juncture. The main issue of this research is to examine the role of Alikhani's economic policies in the industrial and agricultural modernization of Iran and the economic interactions between Iran and the Soviet Union during this period, contrary to the dominant historiographical narrative that considers the normalization of relations with the Soviet Union merely as a means to control the entry of communism into Iran, this research attempts to show that some economic elites opposed to the court sought to create a positive balance between the East and the West in order to gain more privileges through economic policies and the conclusion of various agreements with the Soviet Union. The research method in this article is based on a descriptive-analytical method that is based on study sources and archival documents and records. The research findings show that the quantitative and qualitative growth of industries, in both light and heavy sectors, led the government of the time to exploit the knowledge of both global power blocs for industrialization. Finally, this research shows that the economic policies of the Alikhani in interaction with the Soviet Union were pursued not only for political expediency, but also with the aim of achieving economic development and independence in Iran's economic policies.