After Tehran’s rupee depreciation severely affected the export of sugar-like commodities from India to Iran, the government said the two countries were negotiating the use of another currency for bilateral trade and would continue to address the issue until next month Expected to be resolved.

Due to this, the export of agricultural commodities like sugar, tea and rice from India to Iran has almost stopped.The rupee reserves of Iran have decreased significantly in UCO and IDBI Bank of India. Both banks are authorized to facilitate trade under the head of Rs. Food Secretary Sudhanshu Pandey said, “Our dialogue with Iran is going on.” The Ministry of External Affairs is in talks. We hope for success soon. We are trying to resolve it by April. Iran still has some amount of other currencies. He said that the two countries are discussing accepting any other currency for bilateral trade. Asked when the sugar exports from India will start, he said that it is hoped that by April it will be resolved and after that the goods can be shipped.

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