In a major Iran economy development, New Delhi officials said Iran oil imports have been decreased by 50%. The Fars news agency, affiliated to the Revolutionary Guards, cited a Business Standard report saying according to official authorities, New Dehli imported 11 million tons of crude oil from Iran in the financial year ending 31 March 2014, which is 13 million tons less than the same period the year before. India is replacing Iranian oil with that coming from countries such as Columbia and Mexico.