Trade between India and Iran is up slightly in the first quarter of 2024, driven by a surge in Iranian fruit exports to India. 

 

According to India's Ministry of Trade and Commerce, Iran's fruit exports to India doubled in the first three months of this year compared to the same period in 2023.

 

This growth comes alongside a 20% decline in Iran's rice imports from India during the same timeframe. Overall trade between the two nations reached $520 million in the first quarter, a modest 2% increase year-over-year.

 

Looking deeper at the data, India exported $356 million worth of goods to Iran in the first quarter, an 11% rise. Iran's exports to India, on the other hand, fell 12% to $164 million. This decline is largely due to the drop in rice imports by Iran. India exported $161 million of rice to Iran in the first quarter of 2024, a 20% decrease compared to 2023.