Exports Balance to India on the Rise
IRAN NEWS ECONOMIC DESK
Vice president of India-Iran Chamber of Commerce Parham Rezai says the trade volume between Iran and India is between 12 to 15 billion dollars, adding that after recent conflicts it is downtrend.
Speaking to ILNA, Rezai pointed to the India-Iran Chamber’s undertaking for return of forex resulted from trade, saying that anybody who has done exports will settle his forex undertakings by January 2019 and when exporters do exports, they should return the resulted forex to the country and sell it to the NIMA system or return their forex to the country in form of exports and joint chambers are tasked with easing the trade.
Rezai went on to say that currently most exporters use most part of their forex revenues. He further said establishment of a joint bank in India will resolve most of trade problems of both countries especially in transfer of money.
He admitted that recent conflicts have led to decline in trade between Iran and India, reiterating that Iran’s exports balance to India has increased to some extend but Iran’s oil exports to India has faced downtrend and in return Iran’s imports have increased in exchange of oil sales revenues.
Rezai stated that some essential commodities like rice, tea, medicines and machineries are of the major imports from India.
