India – Iran Economic Relations India – Iran Economic Relations

India – Iran Economic Relations

India and Iran share a long-standing relationship and are important trade partners. Major Indian exports to Iran includes basmati rice, tea, sugar, fresh fruits and drugs/pharmaceuticals where as major exports from Iran to India includes apples, pistachios, dates and kiwi.

Trade Figures

Year

India’s exports to Iran (in US$ billion)

India’s imports from Iran (in US$ billion)

Total bilateral trade (in US$ billion)

Growth (in %)

2018-19

3.51

13.53

17.03

23.77

2019-20

3.38

1.39

4.77

-72

2020-21

1.77

0.33

2.1

-55.85

2021-22

1.45

0.46

1.91

-9.1

2022-23

1.66

0.67

2.33

21.77

2023-24

1.22

0.62

1.85

-20.7

2024-25

1.24

0.44

1.68

-8.89

Source : Departement of Commerce India