Iran’s nine-month exports to India increase: IRICA

The value of Iran’s exports to India increased by six percent during the first nine months of the current Iranian year (March 21-Decemebr 21, 2022), compared to corresponding figure of its preceding year, according to the data released by the Islamic Republic of Iran Customs Administration (IRICA).

IRICA data put Iran’s exports to India at $1.474 billion in the nine-month period of the current Iranian year, while the figure was $1.397 billion in the same time span of the previous Iranian year, IRNA reported.

Oil products and fruits were the major goods imported by India from Iran.

In late May 2022, Iran’s then ambassador to India said that Iran and India are trying to diversify the channels of payments to expand the bilateral trade.

Ali Chegeni added: “We are trying to diversify the channels of payments and accordingly wish to extend and expand an already existing mechanism in order to cover all of the goods and services including all of non-oil goods and to achieve this.”

During the past two years, because of COVID-19 restrictions, we pursue the issue via virtual dialogues and currently our officials are following the matter through the exchange of delegations, the envoy stated at the time.

“We want to develop our economic and trade relations beyond energy and petrochemical products. Since due to the complementarity of Iran and India economies, an extensive range of non-oil trade exists between two sides including trade on goods and services, investment, tourism, education and … which may pave the way for multiplying our economic relations 10 times more than current relations in mid- and long-terms,” Chegeni said.