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.
The Islamic Republic of Iran Shipping Lines (IRISL) has launched a direct container shipping line from Shahid Beheshti Port in southeastern Chabahar to India’s Nhava Sheva Port, MANA reported.
The ministries of agriculture of Iran and India have signed a memorandum of understanding to set up a joint committee on agriculture.
Tehran and New Delhi are expected to sign a long-term deal for the development of Iran’s Chabahar Port by September before the Global Maritime India Summit 2023 scheduled to be held in New Delhi in October, two people familiar with the matter stated.
Iran’s trade with India fell by 19.67% during the first four months of 2023 compared with the same period of last year to stand at $702 million, latest data released by the Indian Ministry of Commerce and Industry show.