Stricter US sanctions on Iran are unlikely to hit local exports as the Persian Gulf nation’s bilateral trade with India is largely limited to pharmaceuticals and agricultural commodities, led by basmati rice.
Rice accounted for $810.08 million of the $1.25 billion in exports to Iran in the financial year ended March, government data showed. That compares with India’s $11.5 billion worth of overall exports of the staple during the year.
