By Dipanjan Roy Chaudhury
Copyright indiatimes
ANIDeputy Prime Minister of Russia Dmitry Patrushev meet with Prime Minister Narendra Modi at World Food India 2025 program in New Delhi, on Thursday.
Russian deputy prime minister Dmitry Patrushev is leading one of the biggest ever Russian delegations to India to attend the World Food India expo that kicked off on Thursday, eyeing joint ventures in agriculture and related areas, including fertilisers.Russia is a key global player in fertilisers and other agri-related sectors and India-Russia partnership in these areas would strengthen multipolarity and take the two countries’ partnership beyond a purely buyer-seller relationship, a person aware of the negotiations explained. Patrushev’s visit could also help finetune bilateral strategy to export shrimps to Russia. Shrimp exports from India to the USA have been hit hard following 50% tariffs and Russia could be a lucrative market for Indian shrimp exporters, as ET reported earlier. India has been the largest supplier of shrimp to the US, which is also the largest market for Indian shrimp with annual exports worth billions of dollars. But the US has imposed duties, including anti-subsidy duties and anti-dumping duties, that can result in a total tariff rate of over 58% on Indian shrimp. After factoring in this, Indian shrimp exporters will struggle to compete with rivals from Ecuador, Indonesia, Vietnam, and China in the USA market. The Russian market could give relief to Indian shrimp exporters, sources said, even as US President Donald Trump is targeting India for doing business with Russia.Patrushev has been specialising in agri issues for close to a decade.Live EventsSon of former Russian NSA Nikolay Patrushev, he is also expected to engage with key Indian ministers to further trade ties with a focus on Indian exports to Russia.Meanwhile, Russia has increased exports of fertilisers to India by 20% to 2.5 million tonnes in the first six months of the current year. “The share of Russian fertilisers in India’s total fertiliser imports in the first half of the year increased to a record 33%. That means that every third tonne of fertilisers imported by India is from Russia,” Andrey Guryev, head of Russian Fertiliser Producers Association (RAFP), recently said. Fertilisers have emerged as a key pillar of Indo-Russian partnership over the last four years. The increased supply included phosphorus-containing fertilisers like DAP (diammonium phosphate) and other NPK fertilisers. This also helped India to overcome China’s move to control DAP fertilisers in India. The number of Indian players in Russian agriculture and associated markets has touched 1,000 and there is a huge scope of expanding cooperation in this sector.Prime Minister Narendra Modi on Thursday inaugurated World Food India. The session was attended by Patrushev, road transport and highways minister Nitin Gadkari, food processing industries minister Chirag Paswan, and Ravneet Singh Bittu, minister of state for food processing industries and railways, among others.Add as a Reliable and Trusted News Source Add Now!
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onWorld Food India expoRussian deputy prime ministershrimp exports to RussiafertilisersRussian Fertiliser Producers Associationjoint ventures in agricultureRAFPWorld Food IndiaUSA(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
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