Iran war drags down India's trade: Exports to West Asia down by 58% in March
India's imports from the West Asia region declined 51.64 per cent in March
- Apr 15, 2026,
- Updated Apr 15, 2026 3:07 PM IST
India's exports to West Asia fell sharply in March, with Commerce Secretary Rajesh Agrawal saying shipments to the region declined by nearly 58 per cent amid the ongoing conflict.
"Exports to the West Asia region fell 57.95 per cent in March due to the conflict," Agrawal said. He added that imports from the region also dropped significantly, stating: "India's imports from the West Asia region declined 51.64 per cent in March due to the conflict."
The disruption comes as the US-Iran conflict, ongoing since February 28, affects movement through the Strait of Hormuz, a key maritime route for global trade. Iran has restricted shipments through the corridor, impacting trade flows.
India's overall exports also declined during the month. Exports in March dropped 7.44 per cent to $38.92 billion, Agrawal said. Despite the monthly fall, annual trade figures showed marginal growth. Merchandise exports rise 1 per cent to $441.78 billion in 2025-26, he said.
Services exports were estimated at $418.31 billion in 2025-26, contributing to overall growth in outbound shipments. "India's goods and services exports rise 4.22 per cent year-on-year to $860 billion in 2025-26," the secretary added.
Meanwhile, an official delegation will visit Washington next week to hold trade talks with US authorities. The trade pact was initially slated for signing in March, but changes in the tariff following a US Supreme Court ruling altered the situation.
The officials earlier stated that the agreement would be signed once America's new global tariff architecture was in place. The Indian delegation will visit the US from April 20 to 22 to take forward the negotiations on the trade agreement.
India's exports to West Asia fell sharply in March, with Commerce Secretary Rajesh Agrawal saying shipments to the region declined by nearly 58 per cent amid the ongoing conflict.
"Exports to the West Asia region fell 57.95 per cent in March due to the conflict," Agrawal said. He added that imports from the region also dropped significantly, stating: "India's imports from the West Asia region declined 51.64 per cent in March due to the conflict."
The disruption comes as the US-Iran conflict, ongoing since February 28, affects movement through the Strait of Hormuz, a key maritime route for global trade. Iran has restricted shipments through the corridor, impacting trade flows.
India's overall exports also declined during the month. Exports in March dropped 7.44 per cent to $38.92 billion, Agrawal said. Despite the monthly fall, annual trade figures showed marginal growth. Merchandise exports rise 1 per cent to $441.78 billion in 2025-26, he said.
Services exports were estimated at $418.31 billion in 2025-26, contributing to overall growth in outbound shipments. "India's goods and services exports rise 4.22 per cent year-on-year to $860 billion in 2025-26," the secretary added.
Meanwhile, an official delegation will visit Washington next week to hold trade talks with US authorities. The trade pact was initially slated for signing in March, but changes in the tariff following a US Supreme Court ruling altered the situation.
The officials earlier stated that the agreement would be signed once America's new global tariff architecture was in place. The Indian delegation will visit the US from April 20 to 22 to take forward the negotiations on the trade agreement.