Iran’s trade with India reaches $510m in January–March
Figures by India’s Ministry of Commerce and Industry show that trade between Iran and the South Asian nation reached $510 million in the first quarter of 2023.
The figures demonstrated a 24% decrease compared to the same period last year, when the total volume of trade between the two countries stood at $678 million, IRNA reported.
The decrease was caused by a 37% drop in Indian exports to Iran, to reach $322 million, from $510 million last year.
However, India’s imports from Iran rose by 12% in the first quarter of this year, reaching $188 million, from $168 million in the same period in 2022.
According to the report, rice had the largest share in India’s exports to Iran, with 63% of the total volume of exports. Fruits with $15 million, and tea with $10 million ranked second and
third.