Annual trade volume between Iran and India exceeds US$1.8bn

Trade volume between Iran and India reached US$1.8 billion in 2023, India's Ministry of Commerce and Industry said.

The trade turnover between the two countries in 2023 declined by 26 per cent compared to the previous year.

Iran exported US$699 million worth of goods to India over the past year, according to the Indian ministry.

Iran's imports of petroleum products in 2023 increased by 26 per cent year-on-year. Raw materials for the production of dyes and various fruits were the main commodities imported into India last year, while rice was among the top imported products for Iran. This is reported by Tehran Times.