TCCIMA to host conference on Iran-India trade

January 24, 2022 - 15:4

TEHRAN - Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) is going to hold an Iran-India trade conference titled “Development of Iran-India trade relations: trade and investment opportunities” on February 2, TCCIMA portal announced.

The conference which is going to focus on exploring ways of developing economic relations between the two countries and solving the existing problems in the way of mutual trade will be held in collaboration with India’s PHD Chamber of Commerce and Industry.

As reported, the virtual conference is going to be attended by senior officials from both sides including the Indian ambassador to Tehran and Iranian Ambassador to India, as well as the heads of TCCIMA and PHD Chamber of Commerce.

The trade between Iran and India has been following an upward trend over the past two years, despite the U.S. sanctions.

According to TCCIMA data, the trade between the two countries increased over 74 percent in the first nine months of the current Iranian calendar year (March 21-December 21, 2021) as compared to the same period in the previous year.

Based on the mentioned data, the value of non-oil trade between Iran and India stood at $2.4 billion in the mentioned nine months, of which $1.34 billion was the share of exports and about $1.05 billion was for imports.

Considering the increase in exports and the decrease in imports from India during this period, the trade balance between Iran and India in the said nine months has become about $296 million positive in favor of Iran.

India stood at sixth place among the Islamic Republic’s top export destinations in the mentioned period, while in terms of imports the country occupied the seventh place among Iran’s top sources of imports.

Iran imported about 935,000 tons of commodities from India in the period under review, registering a 47 percent decline year on year.

Rice was the top commodity imported from India with $220 million, followed by black tea worth $104.4 million, aluminum oxide worth $101 million, and fresh or dried green bananas worth $647 million.

The Islamic Republic exported 4.14 million tons of goods including methanol, ammonia, sponge iron, pistachios, toluene, and urea to India in the said time span.

EF/MA

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