It is clear that Iran needs to do something. Due to the sanctions, the country is no longer allowed to use the Swift payment system. Nor the American Dollar. So the country is switching to other currencies.
So the two natural allies have set up a partnership. By doing so they worked around the so-called “maximum pressure” policy from the USA.
So what is the trade about? It is clear that Iran is exporting energy. But what is Iran buying? Well, mainly tea and rice.
But during 2019 the trade went up by 74%. For India is it clear that Iran plays a crucial role in its foreign policy. India sees Iran as the gateway towards Afghanistan and the region.
What President Trump will do is not clear. But it is clear that the USA is paying more attention to the Indian situation.