The Indian export to Armenia was USD 19.8 million in 2017, USD 51.4 million in 2018, and USD 61.3 million in 2019. While the Indian imports from Armenia were USD 2.8 million, USD 0.56 million, and USD 3.49 million in 2017, 2018, and 2019 respectively.
Indian exports to Armenia consist of bovine meat, agricultural products, electrical equipment, cut and polished diamonds, optical gear, plastics, pharmaceuticals, cosmetics, garments, chemical goods, and cars. Armenia's exports include non-ferrous metals and raw rubber.
In the recent past, the Indian companies like "Kalpataru Power Transmission Limited," Gandhinagar (Gujarat) had completed a power project in Armenia to design, supply, and install high voltage transmission towers in the country.
Many bilateral events are organized to promote trade between the two countries. The Indian Embassy organized a presentation in Yerevan on 23 August 2017 on Gujarat's an investment and tourism opportunities.
A similar presentation on Andhra Pradesh was organized on 17 November 2017
Industrial visits also play a significant role in promoting bilateral trade. A delegation from Pharmaexcil visited Armenia in November 2019. It held meeting with Mr. Arsen Torosyan, Minister of Health of Armenia, Mr. Varos Simonyan, Deputy Minister of Economics, and Armenia's government bodies.
Similarly, in 2017, a 12-member business delegation sponsored by MEA led by CII visited Armenia from 28-29 September 2017. Development Foundation of Armenia organized a business forum with the delegation on 28 September 2017.
Moreover, CII had signed an MOU with the Development Foundation of Armenia and another MOU with the Chamber of Commerce and Industry of Armenia.
Besides, six delegates from the Ministry of Health of Armenia participated in the Advantage Healthcare Summit organized by the Ministry of Commerce, FICCI, and Services Export Promotion Council (SEPC) from 12-14 October 2017 Bangalore.
