Trump Tightens Pressure On Iran, Here's Why India's Basmati Rice Trade Could Pay The Price

New Delhi: The Trump administration has announced 'Operation Economic Outcast' against Iran. The plan aims to weaken Iran’s economy through severe sanctions.

Washington has also warned countries that continue trading with Tehran that they could face secondary sanctions. This has created a risk for India’s basmati rice exporters.

Iran is the second-largest buyer of Indian basmati rice and accounts for around 18-20 percent of India’s exports. The new restrictions could affect nearly USD 1.63 billion in bilateral trade between India and Iran.