TEHRAN- The value of Iran’s export to India increased by six percent during the first nine months of the current Iranian calendar year (March 21-Decemebr 21, 2022), as compared to the same period of time in the past year, according to the data released by the Islamic Republic of Iran Customs Administration (IRICA).

IRICA data put Iran’s worth of export to India at $1.474 billion in the nine-month period of this year, while the figure was $1.397 billion in the same time span of the previous year.

As reported, petroleum products and fruits have been the major goods imported by India from Iran in the said months.

In late May 2022, Iranian ambassador to India said that Iran and India are trying to diversify the channels of payments to expand the bilateral trade.

In an exclusive interview with Financial Express Online, Ali Chegeni said, “We are trying to diversify the channels of payments and accordingly wish to extend and expand an already existing mechanism in order to cover all of the goods and services including all of non-oil goods and to achieve this”.

During the past two years, because of Covid restrictions, we pursue the issue via virtual dialogues and currently our officials are following the matter through the exchange of delegations, the envoy stated at the time.

“We want to develop our economic and trade relations beyond energy and petrochemical products. Since due to the complementarity of Iran and India economies, an extensive range of non-oil trade exists between two sides including trade on goods and services, investment, tourism, education and … which may pave the way for multiplying our economic relations ten times more than current relations in mid and long terms”, Chegeni said.

MA/MA