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of <h1>India's Foreign Trade Policy Update: Exports to Iran Now in Rupees with 15% Value Addition under Para 2.35(b)</h1> The Government of India, under its Foreign Trade Policy 2009-2014, has issued a notification regarding Iran. As per this notification, Iran is now recognized under paragraph 2.35(b) of the policy. This allows exports to Iran of goods imported against payment in freely convertible currency to be paid for in Indian Rupees, provided there is at least a 15% value addition. This change is intended to facilitate trade with Iran by allowing transactions in Indian Rupees, enhancing trade flexibility under the specified conditions.
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