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.
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.
Source: Financialtribune - Date: (25 June 2019)
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