Bilateral Trade
India-Iran bilateral trade during the fiscal year 2018-19 was USD 17.03 billion as compared to USD 13.76 billion in 2017-18, an increase of 23.8%. During 2018-19, Indian exports increased by 32.3% and accounted for USD 3.5 billion, whereas, imports from Iran increased by 21.8% and amounted to USD 13.5 billion.
Trade figures in US$ billion for the past few years are as follows-
Year |
India’s Exports to Iran |
India’s Imports from Iran |
Trade Imbalance |
Total Trade |
Growth Rate (%) |
2016-17 |
2.39 |
10.50 |
8.11 |
12.89 |
42.38 |
2017-18 |
2.65 |
11.11 |
8.45 |
13.76 |
6.7 |
2018-19 |
3.51 |
13.52 |
10.01 |
17.03 |
23.8 |
(Source- Ministry of Commerce & Industry, Government of India)
Major Indian exports to Iran include rice, tea, iron, organic chemicals, insecticides, fabrics, man-made staple fibres, electrical machinery and parts thereof, drugs/pharmaceuticals & fine chemicals, paper and paperboard, etc.
Major Indian imports from Iran include crude oil, inorganic/organic chemicals, fertilizers, plastic and articles, edible fruit and nuts, glass and glassware, natural or cultured pearls, precious or semiprecious stones, leather, etc.
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