Iran-India non-oil trade up

Iran-India non-oil trade during the first Iranian month (March 21-April 20) amounted to1.09 million tons, worth $440 million, registering a 13.34 percent and 36.34 percent increase in terms of weight and value, respectively, compared with the year before, the latest data released by the Islamic Republic of Iran Customs Administration indicated.

India was Iran’s fourth largest trading partner during the period, after China, the UAE and Turkey, respectively, IRNA reported.

Iran’s exports to India stood at 747,511 tons of goods, worth $116.72 million, to register a 15.93 percent and 46.78 percent of decline in terms of weight and value, respectively, year-on-year.

India was Iran’s seventh export destination in the world.

Iran exported methanol, ethylene glycol and bitumen to India during the month.

India exported 350,348 tons of commodities worth $323.27 million to Iran, up by 340.98 percent and 212.65 percent in terms of weight and value, respectively, year-on-year. It was the fourth exporter of goods to Iran during the month under review.

Iran mainly imported semi- and wholly-milled rice, sugar, oilcake, aluminum oxide, tea and graphite electrodes used in furnaces from India.

Major products of India facing high tariffs are basmati rice (45 percent), black tea (30 percent), motorcycles (65 percent), textiles (65 percent), glass microspheres (45 percent), pneumatic rubber tires (30 percent), polyester yarn (40 percent) and woven fabrics (70 percent).