India could lose its situation as the main exporter of basmati rice to Iran, with Tehran currently starting to secure the produce from Pakistan.

Without precedent for many years, basmati rice trades from India to Iran have fallen radically in the main portion of 2020-21 financial attributable to disturbance in installments, a consequence of the US-drove sanctions. New Delhi and Tehran are presently investigating a customary deal exchanging framework to address the rising concerns. 

The matter was examined between External Affairs Minister S. Jaishankar and his Iranian partner Javad Zarif during the previous' new visit to that country. Jaishankar had made a stopover in Tehran while on his approach to Moscow a week ago for the Shanghai Cooperation Organization's unfamiliar clergymen's meeting . 

India and Iran have been examining the deal exchanging framework for almost a year now, since the time the Donald Trump organization started forcing intense financial authorizations on Tehran. 

Iran has said it will purchase basmati rice, sugar and medications from India in lieu of composts. New Delhi, in any case, is yet to solidify its choice, Iranian government sources told ThePrint. 

Iran is presently bringing in basmati rice from Pakistan while Indian transfers worth Rs 1,500 crore are adhered attributable to installment issues, the sources said, adding that Tehran has now asked New Delhi to rapidly proceed onward this choice by using the financial channels of UCO Bank and IDBI Bank that keep on keeping a presence there.