TEHRAN - Managing Board Member at Iran-India chamber of commerce, Muhammad Hassan Didehvar has said that Iran’s non-oil oil trade with India was at a surplus of $296 million in the eight months to late August, according to figures provided by a senior businessman involved in trade ties between the two countries.
Didehvar said that Iranian exports to India had risen by 74% year on year in January-August to reach $1.34 billion.
Didehvar said imports from India into Iran reached $1.05 billion in the eight months to August, down 37% compared with the same period last year.
Methanol and water-free ammonia topped the list of Iranian exports to India in January-August with some $99 million worth of revenues, said the businessman, adding that Iran had exported significant volumes of sponge iron and nuts to India over the same period.
Rice accounted for more than fifth of Indian exports to Iran over the eight months to August, followed by black tea and aluminum oxide, he said.
Didehvar said Iranian exports to India could further increase in the near future with a surge in petrochemical shipments.
He said Iranian government has been pressing India for a reduction in its import tariffs on Iranian energy shipments.
The businessman said increased activity in Chabahar, a port in southeastern Iran where India has committed to development projects, could also lead to a major rise in trade between Iran and India in future.
“Unfortunately, we are not using the Chabahar port properly although it has huge potentials, especially for the Indians, to reduce transport costs,” Didehvar was quoted as saying by ILNA news agency.