October 26, 2026: Iran's ambassador to India, Mohammad Fathali, told TOI that sanctions and payment disruptions had dented trade and "the prices of some goods in Iran have increased for common people," but ruled out "essential shortages,” including Indian basmati rice, a major Indian export to Iran, saying Tehran had prepared for disruptions and had multiple import channels. “We do not expect these challenges to lead to shortages of essential goods, including Indian basmati rice,” Fathalisaid, adding that price rises reflected wider economic pressures rather than supply shortages.

Amid US sanctions on Indian firms over Iranian petroleum trade, Iran’s ambassador to India urged Indian businesses to continue and expand trade with Tehran, acknowledging that sanctions and payment disruptions had reduced bilateral trade “to some extent”.

Iran’s ambassador also pitched the country’s energy market to Indian firms, saying Tehran was ready to engage companies interested in the sector. “Any company that wishes to operate and trade in Iran’s energy market can benefit from the opportunities available in this market,” Fathali said.

(Source: TOI)