As per the industry Inc, the nuclear deal between the Iran and six world powers, including the US, will help in sourcing of oil imports from Iran and boost trade with India. Industry Inc has said that any such deal will make it easy for Iran to engage economically with the rest of the world. Ficci President Naina Lal Kidwai has said that India has maintained strong historic links with Iran and besides increasing oil imports, the recent deal will also open doors to India for exporting manufactured goods to Iran including IT, pharma, electronics, automobile spare parts and food processing. At present bilateral trade between India and Iran is around $15 billion.
Assocham President Rana Kapoor added that the deal would not only reduce India's import bill as energy prices ease, but also help the country to check high inflation. Furthermore, EEPC India Chairman Anupam Shah said that such deal will go a long way in augmenting India's trade with the Persian country as international sanctions has banned domestic exporters for exporting items beyond sanction law. Further, there was so much uncertainty over the payment transfer in the backdrop of sanctions, he added.
Iran and six world powers reached a breakthrough deal early on 24 November to curb Tehran’s nuclear programme in exchange for limited sanctions relief. Earlier, six years ago, the international authorities has initiated a programme to halt Iran’s most sensitive nuclear work and has target Iran’s financial and oil sectors, a main source of revenue for the country. Afterwards, the European Union (EU) has banned oil imports from Iran and now Iranian crude oil importer had declined to 6 importers from 23 importers in June 2012. India is the world’s fourth-largest oil importer and a major customer of Iran’s 1.7 million barrels per day of oil exports. In order to comply with international sanctions, Indian government had drastically cut its energy imports from Iran, which has been replaced by Iraq as the second-largest supplier of fuel to India, after Saudi Arabia. India’s dependence on imports is as high as 80% for crude oil and 25% for natural gas. The recent Iran nuclear deal will help the country a lot as India’s energy demand is expected to more than double by 2035.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: