Escalation of US-Iran tension to impact India’s exports to Gulf nation: FIEO

By: |
New Delhi | Published: January 7, 2020 3:07:04 PM

Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said, "Iran is a key trading partner of India. So far exporters have not flagged any concerns related with exports to Iran".

export, india us export, export imports, EXIM, FIEO, Federation of Indian Export Organisations However, if the tensions escalates, it may have an effect on India’s exports to Iran, Saraf said.

Escalation of tension between the US and Iran will impact India’s exports to the Persian Gulf nation, apex exporters body FIEO said on Tuesday. Tensions between Iran and the US has increased after an American drone strike killed top Iranian General last week.

Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said, “Iran is a key trading partner of India. So far exporters have not flagged any concerns related with exports to Iran”.

However, if the tensions escalates, it may have an effect on India’s exports to Iran, Saraf said. He also said that due to existing trade sanctions on Iran, Iranian shipping lines are only taking Indian consignments to that country.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1US strikes new challenge for India-Iran ties: Trade thrived during sanctions, but things may change now
2Audit reports must for sections of private firms effective FY21
3Private electricity generators object to the latest coal linkage auction