Ajay Sahai, CEO & DG of FIEO, said India need not be overly concerned about the U.S. President’s statement announcing a 25% tariff on countries trading with Iran. He explained that India’s trade with Iran is limited to humanitarian goods such as food and pharmaceuticals, which are outside US OFAC sanctions. However, he flagged concerns over Iran’s sharply depreciating currency, which could affect Indian exports worth ₹1,500–2,000 crore in the pipeline due to reduced consumer purchasing power. Sahai welcomed renewed India–US trade dialogue and urged the upcoming budget to prioritize R&D incentives and skilling to strengthen long-term export competitiveness.