Iran-India bilateral trade during the FY 2021-22 was USD 1.91 billion, a decrease of 9% as compared to USD 2.10 billion during FY 2020-21. In the current fiscal year from period April 2022- September 2022, bilateral trade stood at USD 1.3 billion. During the period, Indian exports amounted to USD 1 billion; and Indian imports amounted to USD 306 million. Total trade increased by 59.9 % as compared to the corresponding figure of the previous year.
Trade figures in USD billion for the past few years are as follows-
|
Year
|
Iran Import to India
|
Iran Export from India
|
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
|
|
2021-22
|
1.45
|
0.46
|
1.91
|
-9
|
|
April 2022- September 2022
|
1.00
|
0.30
|
1.30
|
59.9
|
|
|
|
|
|
|
Major Iran Export to India include almonds, inorganic/organic chemicals, liquified butane and propane, bitumen, dry dates etc.
Major Iran import from India include rice, tea, sugar, fresh fruits, drugs/pharmaceuticals, soft drinks, industrial machinery, boneless bovine meat etc.