Iran-India trade exchanges hit $2.5 bn: report

India’s imports of Iranian oil products surged fourfold in 2022, the Ministry of Commerce and Industry of India reported.

Iran-India trade exchanges have seen a 48 percent hike compared to the corresponding period the year before, the source added.

The total trade between the two countries hit around $1.69 billion in 2021, it further noted.

India’s exports to Iran grew by 44 percent between January and December 2022, reaching $1.84 billion, according to the Indian source.

India exported $1.28 billion worth of goods to Iran in 2021, the source reported.

It also reported that India’s imports from Iran also increased by 60 percent in 2022, hitting $653 million.

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