Iran-India trade rises 46% in first eight months, driven by surge in Indian imports
Trade between Iran and India rose 46% year-on-year to $1.83 billion in the first eight months of 2026, driven mainly by a sharp increase in Indian imports from Iran, according to figures from India’s Ministry of Commerce and Industry cited by Eqtesad-e Moaser.
Bilateral trade totaled $1.25 billion in the same period last year, the ministry’s figures showed.
Indian exports to Iran fell 16% to $730 million in January-August 2026, down from $870 million a year earlier. In contrast, India’s imports from Iran surged 291% to $1.1 billion, compared with $380 million in the same period of 2025.
Iran imports $560 million in rice from India in eight months
Official Indian data show that rice imports from India continued despite tensions in the Strait of Hormuz and transport restrictions in the Persian Gulf since the 40-day US-Israeli war began in late February.
Iran imported $560 million worth of rice from India in January-August 2026, a figure broadly unchanged from the same period last year. More than $170 million of those imports came in July and August.
Iran imported a total of $747 million worth of rice from India in 2025. Based on the import trend in recent months, the value of rice imports from India is expected to exceed last year’s total in 2026.
Oil was also India’s largest import from Iran in the first eight months of 2026. India bought $707 million worth of Iranian oil during the period, with the shipments recorded in April and May. No further oil shipments from Iran to India were recorded in the following months.