By Admin 
After US President Donald Trump announced the deal with Iran, the whole world is hopeful that the energy supply chain will now be normal. Trump has announced that an agreement to end the war between America and Iran has been finalized. The peace agreement is to be signed in Switzerland on June 19. Prime Minister Narendra Modi has welcomed this peace agreement. After this deal, India’s Ministry of Petroleum and Natural Gas issued a statement saying that there is no shortage of petrol and diesel in the country.
India’s statement on LPG, petrol and diesel
Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said, ‘The supply of petrol, diesel and LPG in the country remains stable. Refineries are working at their full capacity and crude oil stock is also being maintained in sufficient quantity. However, sales at some retail outlets are unusually high. The main reason for this is that industrial, direct, institutional and commercial customers are now purchasing fuel from retail outlets, due to which sales have increased there.
Hormuz will be opened without toll: Trump
Trump has said in his ex-post that a deal has been made with Iran on the basis of which Hormuz will be opened without toll. Trump has also issued orders to lift the naval blockade. The agreement between the US and Iran to end the 107-day long conflict and reopen the Strait of Hormuz is expected to provide relief to India’s economy on many fronts. This agreement is likely to accelerate India’s exports to West Asia, give impetus to manufacturing activities and stabilize the rupee.
Decline in imports from Gulf countries
The conflict disrupted global energy supplies, sent crude oil prices above $100 per barrel, and brought the entire West Asia to the brink of a broader regional conflict. This conflict started on February 28, when America and Israel started military operations against Iran’s nuclear program. Its impact was clearly visible on India’s exports. The country’s exports declined by 7.44 percent to $38.92 billion in March, which is the biggest decline in five months. According to the report of news agency PTI, imports from Gulf countries also fell by 51.64 percent during this period.
India’s total trade with JCC
India’s total trade with the Gulf Cooperation Council (JCC) shows a mixed trend. In 2024-25, India’s exports increased by almost one percent to $ 57 billion, while imports increased by 15.33 percent to $ 121.7 billion. United Arab Emirates was India’s third largest trading partner. In 2025-26, exports increased by two percent to $37.4 billion and imports to $63.9 billion, resulting in a trade deficit of $26.53 billion.
Saudi Arabia was the fifth largest partner. Exports declined by 12.55 percent to $110.28 billion, while imports increased by 2.22 percent to $30.8 billion and trade deficit stood at $20.5 billion. Exports to Qatar declined by 3.7 percent to $1.62 billion and imports declined by 1.37 percent to $12.3 billion, leaving the deficit at $10.7 billion.
Exports to Oman declined by one percent to $4.02 billion and imports increased by 9.43 percent to $7.16 billion and the loss was $3.14 billion. Exports to Kuwait were $1.65 billion, imports were $7.91 billion and the deficit was $6.26 billion. Exports to Bahrain were $779 million, imports were $887.7 million and the loss was $108.7 million.
Also read: Explained: US-Iran peace agreement will provide relief in 3 phases! How will petrol, diesel and goods become cheaper day by day in India?