Financial Tribune - Trade between Iran and India stood at about $17 billion in 2018, witnessing an increase of 24% compared to 2017, according to Iran's Ambassador to India Ali Chegini.

The United States pulled out of the nuclear deal it signed with Iran together with China, the UK, Russia, France and Germany last year and reimposed sanctions on Tehran. The new round of sanctions dubbed by Washington as "toughest ever" are aimed at restricting Iran's international trade.

Iran’s exports to India stood at $13.36 billion, accounting for 2.6% of India's total imports during the year under review.

India's exports to Iran stood at $3.3 billion, accounting for 1% of India's total exports.

According to the ambassador, Iran was India’s 15th biggest trading partner in 2018.