India’s trade with Iran has become a tenth of what it used to be a decade ago, while its business with Israel has remained unchanged in the same period, according to a Moneycontrol analysis. As US sanctions impacted oil shipments from Iran, India’s trade with the country shrank to $2.5 billion in FY24 compared with $26.5 billion a decade ago.

As the conflict in West Asia is poised to set off a series of dangerous escalations risking full-scale war between Iran and Israel, Iran's Ambassador to India Iraj Elahi today sought India's intevention to help bring stability to the region.