This research is a study on the Indian merchant groups who were active in commercial efforts and dealing during the period from 16th to 19th century in Iran. This work seeks to review these groups from two points of view. First economic and commercial activities that include: History of trade relations between Iran and India, trading routes, the exchange and the volume of goods and the role of the Indian merchants in the economy of Iran. In the second part besides commercial activities of Indian traders during the study period, we study on that part of the Indian merchant's life in Iran which is considered less by researchers. In this regard the identification of Indian commercial groups, customs, lifestyle, their relations with the government and people of Iran, their interactions with European companies and their commercial competitors would be taken into consideration in this research.