Russian fertilizer producers are ready to expand supplies to India, aiming to strengthen India-Russia tradeI in agricultural inputs. Andrey Guryev, President of the Russian Fertilizers Producers Association (RFPA), emphasized the need for a free trade agreement (FTA) between the Eurasian Economic Union (EAEU) and India to remove trade barriers. He shared these comments during the 16th BRICS Summit held in Kazan, Russia, from October 22-24.
Indian Prime Minister Narendra Modi attended the summit, holding bilateral meetings with BRICS leaders, including Russian President Vladimir Putin. Talks focused on economic collaboration and enhancing India-Russia trade, particularly in the agricultural sector.
Since the introduction of Western sanctions, India has emerged as a major buyer of Russian fertilizers. Guryev noted, “In 2022, our exports to India almost tripled to 4.3 million tonnes, primarily in phosphate-based fertilizers.” By 2023, exports rose by an additional 50 percent, making Russia a leading supplier, providing 25 percent of India’s fertilizer imports.
However, Guryev pointed out that trade barriers, like India’s 5 percent import duty on mineral fertilizers, limit the potential for expanded India-Russia trade. He emphasized that an FTA would reduce costs for Indian farmers, providing better access to sustainable, high-performance fertilizers.
