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 tension 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.