Iran’s Exports to India Increase

TEHRAN (Iran News)Speaking at the Second Conference on Understanding the Market and Trade Opportunities with India, Abdolsadeh Nissi referred to the current state of international trade, noting that imports into major economies such as China and India mainly include fuel, machinery, chemical products, plastics, and iron and steel. He added that fuels, machinery, pharmaceutical products, chemicals, and iron and steel account for a significant share of the global trade basket.

Nissi reiterated that in the first eight months of 1404, Iran’s exports to India amounted to $844 million.

Referring to trade relations with India, he stated that India’s exports to the world are expected to reach approximately $442 billion in 2024. He also pointed to various challenges along the Chabahar route, ranging from exhibition-related issues to matters linked to trade diplomacy, which are being pursued with the support of the country’s diplomatic apparatus. According to him, the marketing and commercial aspects of this corridor have become active, and cooperation from economic operators is essential.

The Assistant to the Head of the Iran Trade Promotion Organization noted that Iran’s exports remain limited to a number of traditional goods, adding that under current conditions, exports are largely confined to these products, while insufficient attention has been paid to the agricultural sector, particularly food products.

Referring to the Global Village Trade Exhibition of India, scheduled to be held from 4 to 6 Bahman 1404, Nissi stressed that participation in exhibitions can help identify pathways for attracting investors.

He added that available statistics and reports show significant potential in the agricultural sector, which has not been adequately utilized. He emphasized that appropriate regulations and infrastructure could contribute to the development of this sector and support the national economy.

Highlighting the mining capacities of both Iran and India, Nissi said both countries are strong in the mining sector and that India has a serious need for Iran’s mineral resources. However, he noted that trade has largely been limited to raw material sales and exports of a narrow range of items, stressing the need to move toward producing and exporting higher value-added products.

He further pointed out that there are considerable opportunities in the Indian market for cement, stone, and construction materials, but these opportunities have not been fully exploited. According to last year’s reports, many companies and exhibitions that were expected to have a presence in India did not participate actively.

Discussing the value of exports and imports, Nissi said the average value of Iran’s exports is around $300 to $350, while the figure for imports from China is about $3,345, and more than $1,700 in trade with India. He emphasized that traders active in the Indian market can play an important role in improving this situation.

He concluded by noting that Iran has achieved relatively acceptable performance in certain areas, including the petrochemical industry, but the main focus remains on exporting raw materials. He stressed the importance of examining how these raw materials are processed into finished products in India and exploring ways to transfer the relevant technologies into Iran.