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

By: |
New Delhi | January 7, 2020 3:07 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.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1FM Nirmala Sitharaman: Govt has started assessing Covid’s impact on economy
2Asian Development Bank to provide USD 346 million loan for power supply project in rural Maharashtra
3IMF says nearly all Mideast economies hit by coronavirus pandemic recession