India's Iran exports set to fall further due to Dubai halt, US sanctions
India has been among Iran's five largest trading partners, though bilateral trade has fallen by more than 90% from its 2018/19 highs of $17 billion, with exports now limited
Assessment
India's trade with Iran has already cratered by over 90 percent from its 2018/19 peak, and now a halt in Dubai transshipment combined with US sanctions threatens to squeeze what remains. For Indian exporters still in the market, the route closure removes one of the last viable channels. Expect further contraction unless alternative logistics emerge or sanctions policy shifts.