The value of trade between Iran and India was reported to have been around $358 million in the first two months of 2023.

India's exports to Iran saw a 20% jump in January and February 2024 compared to the same period last year, reaching $269 million. India had exported $224 million worth of commodities to Iran in the same period 2023.

But India's imports from Iran saw a 19% decline in January and February 2024 compared to the same period 2023, reaching $108 million. India had imported $134 million worth of goods from the Islamic Republic in the first two months of the last year.

Iran’s main import items from India were rice, fruits, and oil seeds press cake in the first two months of the current year.

India chiefly imported fruits, raw materials for paint production, and petroleum products from Iran in the first two months of 2024.