New Delhi, December 5, IRNA – India Today magazine wrote in its Thursday edition that Iran-India trade balance which is currently 15 billion US dollars will based on two countries’ decision increase to $25 billion within the next 5 years.
The report also informs that the Indian financial affairs organization is surveying the issuance of a US $200 billion money order to cover the country’s foreign debts, first to Dubai and then to Iran.
The report says that the Indian organization is surveying all Indian merchants’ commercial transactions with Central Asian countries, especially with Iran and Azerbaijan.

India is Iran’s 2nd largest oil customer next to China that faced problems in paying the oil sales money following the unjustly imposed western sanction.

The report states that Yuko Bank will transfer the money in accounts of India’s trade partners.

Iran and India have agreed to that 45% of Iran’s oil sale money will be paid in Indian rupees and the rest in other foreign hard currencies.

Meanwhile, some Indian companies had lately proposed to receive the price for their exported steel to Iran from the reserved Iranian oil sales money in Indian banks.

By IRNA

 

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