Rising tensions between Iran and the U.S. may affect India-Iran trade, which has grown in recent years despite sanctions against the West Asian country. Specifically, imports of methanol, pistachios, crude oil, and exports of varieties of tea, rice and synthetic fibres may get affected if severe sanctions are imposed.
India’s imports from Iran
The graph shows India’s imports from Iran in $ million for various products and their % share of total imports between 2014 and 2019. For instance, India imported $34 million worth kiwi fruits from Iran in this period, which formed 21.6% of India’s total kiwi imports.
Products imported by India
India-Iran trade US-Iran tensions - Chart 1_New
India’s exports to Iran
The graph shows India’s exports to Iran in $ million for various products and their % share of total exports between 2014 and 2019. For instance, India exported $95 million worth synthetic fibre variety (acrylic or modacrylic), which formed 55% of India’s total exports of that commodity.
Products exported by India
India-Iran trade US-Iran tensions - Chart 2
Import history
In the time periods mentioned in the table, imports from Iran formed about 2-3% of India’s total imports in terms of product value. After a peak in 2004-2009, it has stagnated since.
What was the value of Iranian imports to India
India-Iran trade US-Iran tensions - Chart 3
Export history
In the same period, exports to Iran formed 1% of India’s total exports in terms of product value. Like imports, export growth has also stagnated in the last 10 years.
What was the value of Indian exports to Iran
