Commercial Counselor: Iran-India trade relations developing

By  Trend

In the previous years, India exported goods worth $4.5 billion to Iran, while Iran exported goods worth $2.7 billion to India, Hossein Bamiri, Commercial Counselor of Embassy of Islamic Republic of Iran in India, said.

He said that India's big companies supply a small volume of products to Iran because it fears the US. Therefore, the trade balance has dropped, Trend reports citing ILNA.

Iran exported goods worth about $1.370 billion, while India exported goods worth $1.470 billion, Bamiri added.

In 2011, India's non-oil exports to Iran totalled $5.2 billion, while Iran's non-oil exports to India amounted to $2.4 billion, he said.

Presently, trade turnover volume between Iran and India is $5.5 billion, Bamiri said.