How Indias trade with Iran could get affected amid rising Iran-U.S. tensions

 thehindu.com  01/22/2020 12:50:38 

Rising tensions between Iran and the U.S. may affect India-Iran trade, which has grown in recent years despite sanctions against the West Asian country. Specifically, imports of methanol, pistachios, crude oil, and exports of varieties of tea, rice and synthetic fibres may get affected if severe sanctions are imposed.

Indias imports from Iran

The graph shows Indias imports from Iran in $ million for various products and their % share of total imports between 2014 and 2019. For instance, India imported $34 million worth kiwi fruits from Iran in this period, which formed 21.6% of Indias total kiwi imports.

Products imported by India

50 20 10 5 2 1 0.5 0.2 0.1 0.05 Pistachios (In shell) Pistachios (Shelled) Kiwi Almonds Dates Between 2014 and 2019, India imported more than 10% of these 16 products from Iran Mean Mean 1 10 100 1000 10000 % share of total import of product Value of products from Iran ($ million) Close to 10% of India's oil imports was met by crude from Iran

Indias exports to Iran

The graph shows Indias exports to Iran in $ million for various products and their % share of total exports between 2014 and 2019. For instance, India exported $95 million worth synthetic fibre variety (acrylic or modacrylic), which formed 55% of Indias total exports of that commodity.

Products exported by India

50 20 10 5 2 1 0.5 0.2 0.1 0.05 10 50 200 1000 5000 Mean Vaccines for human medicine Semi/wholly milled rice Tea varieties Cane sugar Turmeric Synthetic fibre varieties Some varieties of black tea and milled rice witnessed high demand from Iran in the last fve years Mean % share of total export of product Value of products to Iran ($ million) Between 2014-19, India exported more than 10% of these seven products to Iran

Import history

In the time periods mentioned in the table, imports from Iran formed about 2-3% of Indias total imports in terms of product value. After a peak in 2004-2009, it has stagnated since.

What was the value of Iranian imports to India

Period $ million % 2014-2019 50,377.44 2.3 2009-2014 58,160.84 2.78 2004-2009 32,051.6 3.2 1999-2004 2,109.63 0.72 1996-1999 1,967.14 1.6

Export history

In the same period, exports to Iran formed 1% of Indias total exports in terms of product value. Like imports, export growth has also stagnated in the last 10 years.

What was the value of Indian exports to Iran

Period $ million % 2014-2019 15,499.6 1.05 2009-2014 15,079.8 1.12 2004-2009 8,344.2 1.26 1999-2004 2,204.9 0.91 1996-1999 525.8 0.52
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