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Putin offers to boost fertiliser supplies to India
Russian President Vladimir Putin said on Monday that Moscow is ready to increase fertiliser exports to support Indian agriculture, during a meeting with External Affairs Minister S Jaishankar in Moscow. Russia remains…
Russian President Vladimir Putin said on Monday that Moscow is ready to increase fertiliser exports to support Indian agriculture, during a meeting with External Affairs Minister S Jaishankar in Moscow. Russia remains India's largest fertiliser supplier, with imports rising nearly 40 per cent in 2025. Putin noted that bilateral trade grew in the first half of 2026 after a dip last year.
Jaishankar highlighted a widening trade imbalance now exceeding $50 billion in Russia's favour, up from $6.6 billion in 2021. He called for better market access, removal of tariff barriers, stronger payment mechanisms, and deeper business ties to reach the shared target of $100 billion in bilateral trade by 2030. Jaishankar co-chaired the 27th India-Russia Inter-Governmental Commission meeting with First Deputy Prime Minister Denis Manturov.
Manturov said trade with India would get a further boost once the free trade agreement with the Eurasian Economic Union takes effect. India has invited Putin for the BRICS summit in New Delhi on September 12 and 13, and Prime Minister Modi is also expected to meet him at the Shanghai Cooperation Organisation summit in Bishkek on August 31-September 1.
Indian Opinion Analysis
The trade imbalance Jaishankar flagged has been a structural feature since Russia's invasion of Ukraine in 2022, when India's fertiliser and crude imports from Russia surged as global buyers shunned Moscow. India's fertiliser subsidy bill crossed Rs 2.25 lakh crore in 2024-25, and cheaper Russian supplies have helped contain that cost. The $100 billion target by 2030 would require India to nearly double its exports to Russia, a tough ask given payment hiccups over rupee-ruble settlement and sanctions on Russian banks. The free trade pact with the Eurasian Economic Union, still under negotiation, could open a route. The BRICS summit on September 12 in New Delhi will test whether the two sides can move beyond rhetoric on trade diversification.
Source: rediff.com
This brief was synthesised by AI from the source linked above.
