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-

(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.