November 28, 2023

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Iran exports commodities worth $567m to India in 4 months

TEHRAN- Iran exported non-oil products valued at $567 million to India in the first four months of the current Iranian calendar year (March 21-July 22), according to the data released by the Islamic Republic of Iran Customs Administration (IRICA).

Iran has also imported goods worth with $859 million from India in the first four months of this year.

Based on the IRICA data, India was Iran’s fifth trade partner in the four-month period.

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

In an exclusive interview with Financial Express Online, Ali Chegeni said, “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 restrictions, we pursue the issue via virtual dialogues and currently our officials are following the matter through the exchange of delegations, the envoy stated.

“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 ten times more than current relations in mid and long terms”, Chegeni said.


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