NEW DELHI: Russian President Vladimir Putin has offered to increase fertiliser supplies to India further, signalling Moscow’s intent to deepen one of the most strategically important pillars of the bilateral economic relationship. The offer came when External Affairs Minister S Jaishankar called on Putin in Moscow.
Putin made clear that Russia was prepared to increase supplies to meet India’s agricultural requirements.
“We are doing everything to close this issue for Indian farmers and agriculture, we are increasing these supplies and we are ready to do this further,” Putin said. He separately highlighted fertilisers alongside fuel as an important component of Russia’s economic support to India.
“One of these issues – not just fuel – is the supply of mineralisers (fertilizers). We are doing everything we can to resolve the issue for Indian farmers, for agriculture; we are increasing these exports and are prepared to continue doing so.”
The offer comes as fertilisers have become an increasingly important element of India-Russia economic ties. Russia has emerged as India's largest supplier of fertilisers, particularly urea, with Indian fertiliser imports from Russia rising by almost 40 per cent in 2025.
The two countries had also identified fertilisers as an area for longer-term cooperation during Putin’s December 2025 visit to New Delhi, when they welcomed steps to secure long-term supplies and discussed the possibility of establishing joint ventures. Putin also pointed to the broader expansion in bilateral trade.
Jaishankar conveyed Prime Minister Modi’s plans for future meetings with Putin, saying Modi looked forward to meeting the Russian president at the forthcoming Shanghai Cooperation Organisation summit and welcoming him to India for the BRICS Summit. The two leaders are also expected to hold their annual bilateral summit at a mutually convenient time.
“We have a very strong picture of cooperation to present,” Jaishankar said. Earlier Jaishankar after his meeting with Russian First Deputy Prime Minister Denis Manturov said bilateral trade had increased from around $13 billion in 2021 to approximately $60 billion in 2025. However, the growth has been overwhelmingly tilted towards Russian exports, pushing the bilateral trade deficit for India from $6.6 billion to more than $50 billion.
Jaishankar identified market access, the removal of tariff and non-tariff barriers, stronger payment mechanisms and greater business-to-business engagement as key priorities. These measures will be critical if India and Russia are to achieve their shared target of $100 billion in bilateral trade by 2030.
Denis Manturov said India-Russia trade had increased by 8 per cent during the first half of 2026, with Moscow seeking to broaden the composition of trade beyond energy and fertilisers. Agricultural products, machine-building goods, metallurgy and forest products are expanding alongside traditional Russian exports of fuel and mineral fertilisers. Indian exports to Russia include pharmaceuticals, agricultural products, industrial raw materials, equipment and components, and light-industry goods.