NEW DELHI: While US President Donald Trump delivered yet another blow by announcing 25% additional tariff on countries that do active trade with Iran, government sources said India is likely to have minimal impact. Their confidence stemmed from the fact that India’s total merchandise trade with Iran stood at only $1.6 billion (in 2024-25), which is 0.15% of the country’s total trade. “For India, Iran does not even figure in the top 50 global trading partners. India’s trade value with Iran is expected to further go down in the current fiscal year given external economic factors. (Therefore) 25% tariff announced by the US on trade partners of Iran is likely to have minimal impact on India,” said government sources.

Source: Indian Express January 14, 2026 10:15 UTC