Iran is trying to overtake Russia this year as the largest importer of Indian tea. Indian tea, which is exporting to Iran has hit a record of 43076 million kg this year till September. Reports says that other exporting countries like Srilanka have found it hard to sustain their shipments.
Since Iran does not have any adequate foreign exchange , it was difficult for them to settle the payments. Under the trade agreement between India and Iran, the west Asian countries can pay India in rupees for its imports . Between January and October, India is maintaining focus on Iran and increasing its exports to that country. Datas collected reveals that tea board showed that between January and September , export of tea to Iran raised by 115.67 percentage. But to other countries like Russia and other CIS countries lowered to 11.46 percentage. For the past years Russia was the largest importer and exports to Russia ans CIS taken together . Till Septemper this year, exports to Russia and CIS made up 22.85 percent while Iranian imports accounted for 23.97 of Indian tea. The tea Board made garden compulsory last year so as to improve quality. It issued similar orders this year also. It is also continuously monitoring the quality of the tea and also removing or rejecting the bad ones.
Since Iran does not have any adequate foreign exchange , it was difficult for them to settle the payments. Under the trade agreement between India and Iran, the west Asian countries can pay India in rupees for its imports . Between January and October, India is maintaining focus on Iran and increasing its exports to that country. Datas collected reveals that tea board showed that between January and September , export of tea to Iran raised by 115.67 percentage. But to other countries like Russia and other CIS countries lowered to 11.46 percentage. For the past years Russia was the largest importer and exports to Russia ans CIS taken together . Till Septemper this year, exports to Russia and CIS made up 22.85 percent while Iranian imports accounted for 23.97 of Indian tea. The tea Board made garden compulsory last year so as to improve quality. It issued similar orders this year also. It is also continuously monitoring the quality of the tea and also removing or rejecting the bad ones.
Look out for english language structure, also learn about the UCO bank payment mechanism that India and Iran had for petroleum payments. With US sanctions,routing payments to Iran has become an issue.
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