EghtesadOnline: Iran traded 1.09 million tons of non-oil commodities worth $440 million with India during the first Iranian month (March 21-April 20), registering a 13.34% and 36.34% increase in tonnage and value respectively compared with the year before, latest data released by the Islamic Republic of Iran Customs Administration show.
India was Iran's fourth biggest trading partner during the period after China, the UAE and Turkey respectively.
Iran’s exports to India stood at 747,511 tons of goods worth $116.72 million to register a 15.93% and 46.78% decline in tonnage and value respectively year-on-year.
India was Iran’s seventh export destination in the world, according to Financial Tribune.
Iran exported methanol, ethylene glycol and bitumen to India during the month.
India exported 350,348 tons of commodities worth $323.27 million to Iran, up by 340.98% and 212.65% in tonnage and value respectively YOY. It was the fourth exporter of goods to Iran during the month under review.
Iran mainly imported semi- and wholly-milled rice, sugar, oilcake, aluminum oxide, tea and graphite electrodes used in furnaces from India.
Major products of India’s interest facing high tariffs are basmati (45%), black tea (30%), motorcycles (65%), textiles (65%), glass microspheres (45%), pneumatic rubber tires (30%), polyester yarn (40%) and woven fabrics (70%), according to Financial Express.