Russia share in India's fertiliser imports rose to 27% in 2023-24

While Indian companies might be under pressure to cut down oil imports from Russia, fertiliser imports to India has grown manifold in the past few years, with the country emerging as one of main suppliers of urea and di-ammonium phosphate (DAP) to India.  Russia’s share in India’s total fertiliser imports has grown from 7.68 per cent in 2017-18 to almost 27 per cent in 2023-24.  According to some reports, Indian state-run and private companies are jointly looking to set up an around 2 million tonnes of urea plant in Russia.   Data shows that between 2017-18 and 2023-24, India’s imports of Russian urea has grown by a compound annual growth rate of 62.31 per cent, while total imports of all products, including DAP and NPKS, has risen by around 22.01 per cent.