100 percent increase in Iran-India business activities

100 percent increase in Iran-India business activities
11 Mar

According to the report of the Indian newspaper, after the deal on the local currency between Iran and India, there has been a 100 percent increase in bilateral trade activities.

India’s English newspaper “Business Standard” has written in a report that the agreements related to the use of local currency riyal and rupee for common trade between Iran and India were followed, after which there has been a significant increase in bilateral trade. After the guarantee given by India’s “UCO Bank”, the local currency agreement between Iran and India has been strengthened further.

According to the business standard of the newspaper, financial experts say that after the recent agreement between the two countries, the tea leaf market in Iran has improved by 15-20 percent. Last year, India had been the second largest country to export tea leaves to Iran, but despite the unilateral sanctions imposed by the US on Tehran, India’s exports had come down. According to Association of Tea cultivators in India, after the local currency agreement between the two countries, Indian businessmen will now be able to export Tea leaf to Iran without any difficulty.

Meanwhile, according to the latest figures, in January last year, there has been an increase of 109 percent in the trade activity of Iran and India. The commercial volume of both the countries is a total of $ 10.6 billion, in which $ 8 billion is included in crude oil imports and $ 2.6 billion in tea leaves and rice exports to Iran.

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