Bilateral Trade Bilateral Trade

Bilateral Trade

Bilateral Trade

India-Iran bilateral trade during the FY 2020-21 was USD 2.10 billion, a decrease of 55.9% as compared to USD 4.77 billion during FY 2019-20. In the current fiscal year from period April 2021- July 2021, bilateral trade stood at USD 619.37 million. During the period, Indian exports amounted to USD 465.74 million; and Indian imports amounted to USD 153.63 million. Total trade decreased by 25.19% as compared to the corresponding figure of the previous year.

Trade figures in USD billion for the past few years are as follows-

Year

India’s Exports to Iran

India’s Imports from Iran

Total Trade

Growth Rate (%)

2018-19

3.51

13.52

17.03

23.8

2019-20

3.38

1.39

4.77

-71.9

2020-21

1.77

0.33

2.10

-55.9

April- July 2021

0.465

0.154

0.619

-25.19

(Source: Department of Commerce)

Major Indian exports to Iran include rice, tea, sugar, fresh fruits, drugs/pharmaceuticals, man made staple fibers, electrical machinery, artificial jewellery etc.

Major Indian imports from Iran dry fruits,inorganic/organic chemicals, glass and glassware, natural or cultured pearls, precious or semiprecious stones, leather, gypsum etc.