India is one of the most important target markets for Iran in oil export and purchased around 20% of Iran's exported crude oil during sanction era.
Regarding India's economic growth, it is predicted that India become the biggest crude oil buyer in the world.
An official with Iran's Petroleum Ministry said India's crude oil import in January, 2016 increased a bit compared to the previous month.
Accordingly, India's average imported crude oil in January hit 3.86m barrels per day representing 0.5% growth compared to the previous month.
Meanwhile this amount had 7.4% fall compared to the same period previous year.
In December, 2015 Iraq ranked first in exporting crude oil to India but the latest reports show that Saudi Arabia with the average export of 845,000 barrels per day and having 16% growth compared to previous month was the biggest crude oil exporter to India.
In the early months of 2016, Saudi Arabia supplying (22%), Iraq (21.6%), Nigeria (11.7%), Emirates (9.1%), Venezuela (8.7%), Iran (6.3%) and Kuwait (4.8%) stood in the top positions of oil exporters to India.
During sanction era, Iran was permitted to export 1m barrels crude oil per day, 20% of which was exported to India.
Indian Reliance Petroleum Company after a five-year stop is getting ready to import Iranian crude oil again tending to buy 120,000 barrels per day.
Reliance is negotiating with National Iranian Oil Company to sign a contract to buy 100,000-120,000 barrels crude oil per day.