Iran has exported as much as $2.217 billion worth of goods to India during the past Iranian calendar year to late March, according to an official with Iran’s Trade Promotion Organization (TPO).
India’s Ministry of Commerce and Industry has recently issued a report which puts the country’s trade exchanges with Iran in January at over $200 million.
Iran’s import of rice and tea from India decreased by 34 and 65 percent in 2023 respectively compared to a year earlier, the Indian Ministry of Commerce and Industry said.
Officials from Iran and India finalized an agreement on the development of the Chabahar Port located in the southeastern part of Iran.
India’s Ministry of Commerce and Industry in its latest report said Tehran and New Delhi exchanged about $1.3 billion of products in the first nine months of 2023 (January-September).
Also, exporting non-oil commodities valued at $1.1 billion to Iran, India was Iran’s fifth source of import during the first seven months of this year, the official announced.
A contract will be finalized with India on the development of Iran’s southeastern port of Chabahar within the next two weeks, an Iranian deputy minister of roads said.
Noting that Iran is a temperate country while India is a tropical country, Indian Ambassador to Iran Rudra Gaurav Shresth says “the products that we produce are different and complementary to each other” and there is a potential for both countries to trade in the area of agricultural products and fruits.
India’s Ambassador to Iran Rudra Gaurav Shresth visits Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) where he meets ICCIMA President Hossein Selahvarzi on October 10, 2023.
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Hossein Selahvarzi has stressed the need for signing a preferential trade agreement between Iran and India at the earliest.