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Iran-India trade value hits $510 million in three months
NEW DELHI: Ministry of Commerce and Industry put the country’s value of trade with Iran in the first three months of 2023at$510million.
In this period, India’s import of non-oil products from Iran registereda12percentgrowth,theministryadded.
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The trade exchanges between Iran and India, meanwhile, showed a 24 percent decline compared to last year’s correspondingperiod.
The total value of trade exchanges between Iran and India inthefirstthreemonthsof2022hadexceeded$678million.
India’s export slump to Iran has been cited as the main reason behind the reduced value of trade exchanges between thetwosidesfromJanuarytoMarch2023.
Inthisperiod,Indiaexported$322millionworthofgoodsto Iran,showinga37percentdeclinecomparedtoayearearlier.
India had exported $510 million worth of products to Iran from January to March 2022. Meanwhile, India imported $188 million worth of non-oil goods from Iran in the first three months of the current year, showing a 12 percent growth comparedtolastyear’scorrespondingperiod.
