The value of trade between Iran and India reached $1.836 billion in 2023, according to India’s Ministry of Commerce and Industry. The trade exchange between the two countries declined by 26 percent in 2023 compared to its previous year, the figure was reported to be $2.499b in 2022.
According to the Indian Ministry data, Iran exported commodities valued at $699m to India during the past year, registering no significant change from 2022. Petroleum products were the top goods imported by India from Iran in 2023, and India imported $221m worth of such products from Iran this year. The import of Iranian oil products by India in 2023 increased by 26 percent compared to the previous year.—Tehran Times
