Russia has entered the top 5 importers of agro‑industrial products to India

India, being one of the largest importers, now depends on Russian supplies of agricultural products, which provides Russia with a stable sales market and opportunities for further expansion of exports, especially sunflower oil and fertilizers. For the Indian side, this means reliable supplies and competitive prices. India gains confidence that it will be able to secure its domestic market, especially under conditions of volatility in global markets.

Indian processors consider Russia the most reliable source of sunflower oil. Russian supplies benefit from competitive prices, which help ease inflationary pressure on India’s food market, and also allow Russia to maintain in the future a share of 55–60% in India’s purchases of this product abroad.

India has increased its imports of sunflower oil from Russia 12‑fold over the past four years. The supply chain of this oil to India will continue to strengthen, and Russia will remain the leader in this segment of Indian imports.

The growth of Russia’s share in agricultural exports to India indicates the expansion of internal trade within BRICS.

Author: Doctor of Economics, Professor of the Department of World Economy and World Finance at the Financial University under the Government of the Russian Federation Marina Borisovna Medvedeva