ALWAGHT- The Ministry of Commerce and Industry in India has reported a 5% increase in trade between Iran and India during the initial two months of 2024 in comparison to the corresponding period in the previous year, amounting to a total trade value of $377 million.
During the initial two months of 2023, the trade value between Iran and India stood at approximately $358 million.
In January and February 2024, India's exports to Iran surged by 20% compared to the same period the previous year, totaling $269 million. In contrast, India had exported commodities worth $224 million to Iran during the corresponding months in 2023.
Conversely, India's imports from Iran experienced a 19% decrease in January and February 2024 compared to the same period in 2023, amounting to $108 million. In contrast, India had imported goods valued at $134 million from the Islamic Republic during the initial two months of the previous year.
During the first two months of the current year, Iran primarily imported rice, fruits, and oil seeds press cake from India.
On the other hand, India's main imports from Iran in January and February 2024 included fruits, raw materials for paint production, and petroleum products.
