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Awaiting clarity on US' proposed Iran-related tariffs: Comm Secy
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....waiting clarity on US' proposed Iran-related tariffs: Comm Secy<BR>Customs & Trade<BR>Dated:- 15-1-2026<BR>PTI<BR>New Delhi, Jan 15 (PTI) India on Thursday said its exports to Iran are largely humanitarian and it will wait for the US executive order on the 25 per cent tariff announced by President Donald Trump on countries doing business with Tehran to assess its implications. Trump, in a social ....
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....media post on Monday, said "effective immediately", any country doing business with Iran will pay a tariff of 25 per cent on any and all business being done with the US. "We have limited trade with Iran. Largely, our exports of goods and services are of a humanitarian nature. We are looking at that (announcement)...We are awaiting the details...we are awaiting the (executive) order," Commerce Sec....
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....retary Rajesh Agrawal told reporters here when asked about the implication on India of the announcement. Federation of Indian Export Organisations (FIEO) has said that Indian companies and banks are in full and demonstrable compliance with OFAC (Office of Foreign Assets Control) sanctions on Iran, engaging exclusively in clearly permitted humanitarian trade, mainly in food and pharmaceuticals. T....
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....he earlier sanctions imposed by OFAC of the US Department of the Treasury in November 2018 led to a sharp fall in bilateral trade between India and Iran. India had a total trade of USD 1.68 billion with Iran in 2024-25, which included USD 1.24 billion in exports primarily from the farm sector. India's exports to Iran accounted for a meagre 0.28 per cent of its total USD 437 billion shipments in ....
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....2024-25. India's top exported products to Iran were cereals, animal fodder, tea and coffee, spices, fruits and vegetables, and pharmaceuticals. The US announcement is important as exporters are keeping their fingers crossed on the impact of the additional duty, as they are already reeling under the impact of the steep 50 per cent tariffs imposed by the US. The main imports from India include dr....
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....y fruits, inorganic/organic chemicals and glassware. A key aspect of India-Iran ties is the joint development of the Chabahar port. Located in the Sistan-Balochistan province on the energy-rich Iran's southern coast, the port is being developed by India and Iran to boost connectivity and trade ties. India's merchandise exports to Iran rose by 1.55 per cent to USD 1.24 billion in 2024-25, while i....
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....mports dipped by 29.32 per cent to USD 441.83 million. PTI RR CS RR BAL BAL<BR> News - Press release - PIB....