Moscow, 22 October 2024. Prime Minister Narenda Modi is attending the 16th BRICS Summit in Kazan, Russia, held on October 22-24. The Prime Minister will engage in bilateral meetings with BRICS leaders. The summit centers on economic cooperation, digital inclusion, and financial inclusion. This is Narenda Modi's second visit to Russia in 2024. Narenda Modi held bilateral talks with Russian President Vladimir Putin on Tuesday.

Commenting on the meeting, President of the Russian Fertilizers Producers Association Andrey Guryev stressed that since the introduction of Western sanctions, India, as a friendly nation, has increased its imports of Russian fertilizers more than any other country.

«In 2022, our fertilizer exports to India almost tripled to 4,3 million tonnes, driven largely by increased deliveries of phosphate-based fertilizers. In 2023, shipments rose by another 50 per cent, and Russia now accounts for 25 per cent of all fertilizers imported by India. Russia’s environmentally friendly fertilizers are critical to providing the world’s most populous country with safe, high-quality food. We are ready to further increase supplies of mineral fertilizers to India. However, our capacity is constrained by trade barriers that raise costs for Indian consumers.

India currently imposes a 5 per cent duty on imported mineral fertilizers. The removal of this tariff would benefit Indian farmers both in terms of reduced costs and in terms of increased access to high-performance, environmentally friendly fertilizers. We consider it expedient to intensify efforts to conclude a free-trade agreement between the Eurasian Economic Union and India in order to eliminate this barrier», - the RFPA head said.

About the Russian Fertilizer Producers Association

The Russian Fertilizer Producers Association was established in 2008 by Russia’s largest producers of mineral fertilizers to represent and protect their interests in addressing key issues related to the development of the mineral fertilizer industry.

The Association currently has 13 members, which supply nearly 80% of the total Russian market for mineral fertilizers.

For more information, see the website: https://rapu.ru.

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