Good opportunity for India to broaden the basket of Indian exports to Iran: TPCI
New Delhi, Nov 15 (KNN) Bilateral trade between India and Iran was on the high growth path but unilateral sanctions imposed by the US were meant to pose as a dampener to this trade. However, there still is an enhanced scope for trade between India and Iran after the implementation of the US backed sanctions on Iran, the Trade Promotion Council of India (TPCI) has said.
In a release, TPCI said, “Embassy of India in Tehran has released a list of products which India exports to the world and which Iran has also been importing from the world. Trade pundits in TPCI feel it is a good opportunity for India to broaden the basket of Indian exports to Iran to better utilize the Rupee funds.”
No doubt India-Iran remained the essential trading partners even during sanctions as we exported primary edible products such as rice, meat and tea, and fairly imported crude from them.
As per the potential products India needs to focus on new set of products which so far remained tyro.
They include: organic and inorganic chemicals, animal feed products, perfumery and cosmetic items, pneumatic and radial tyres, optical and medical instruments, machineries for mechanical appliances, sweet corn, ready to eat packed foods, value added processed food like wafers and cookies, automated agri machines and appliances, radars, wooden furniture’s, finished iron and steel products, highlighted the Council.
Mohit Singla, Chairman TPCI, said, “The bold steps taken by India with respect to Iran and Russia will not only boost India’s image as a neutral player in world trade. Trading in rupee can well be a new route of trade, outside dependence on the US dollar.”