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Desk: India is unlikely to face any significant impact from US President Donald Trump’s plan to impose an additional 25 percent tariff on countries trading with Iran, exporters’ body FIEO has said. Indian exporters are already dealing with nearly 50 percent US tariffs, it added.
Trump has announced that any country engaging in trade with Iran will have to pay an additional 25 percent duty on its trade with the United States. This move could potentially affect major trading partners of Iran such as India, China and the United Arab Emirates (UAE).
However, the Federation of Indian Export Organisations (FIEO) said on Tuesday that Indian companies and banks are fully and clearly complying with the Office of Foreign Assets Control (OFAC) sanctions imposed on Iran. According to FIEO, India’s trade with Iran is limited to humanitarian goods such as food items and pharmaceuticals, which are exempt from sanctions.
FIEO Director General Ajay Sahai said there is no basis for apprehension about any adverse impact on India. In 2024–25 (April–March), India’s total trade with Iran stood at USD 1.68 billion, of which exports accounted for USD 1.24 billion, largely from the agriculture sector. Major Indian exports to Iran include cereals, animal feed, tea and coffee, spices, fruits and vegetables, and pharmaceuticals.
FIEO reiterated that most of these products fall under humanitarian categories and are outside the scope of US sanctions. Therefore, it believes that the additional 25 percent tariff proposed by the US on countries trading with Iran will have little to no impact on India.
The announcement is significant for exporters, who remain cautious about the possible effects of additional duties. India’s key exports to Iran include rice, tea, sugar, medicines, synthetic fibres, electrical machinery and artificial jewellery, while major imports from Iran consist of dry fruits, inorganic and organic chemicals, and glassware.
A key pillar of India–Iran relations is the joint development of the Chabahar Port, located in Iran’s energy-rich Sistan-Baluchestan province along the southern coast. The port is being developed to enhance regional connectivity and boost trade ties between the two countries.
In 2024–25, India’s exports to Iran rose by 1.55 percent to USD 1.24 billion, while imports declined sharply by 29.32 percent to USD 441.83 million.
