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India, Russia Forge Agri-Trade Pact
8 Dec
Summary
- India and Russia signed an MoU on agricultural research and trade.
- Bilateral agri-trade currently stands at $3.5 billion.
- Both nations aim for more balanced agri-trade and innovation.
India and Russia have committed to deepening their agricultural ties through a newly signed Memorandum of Understanding (MoU). This accord, established between the Indian Council of Agricultural Research (ICAR) and Russia's Federal Center for Animal Health, is set to strengthen collaboration in research, innovation, and capacity building within the agricultural sector.
The agreement was formalized during a high-level bilateral meeting. Discussions highlighted the existing agricultural trade, currently valued at $3.5 billion, with a strong emphasis on achieving a more equitable trade balance. India has also sought Russia's participation in upcoming BRICS Agriculture Ministers' Meetings, which India will host.
Both nations have pledged to enhance cooperation across various agricultural domains, including trade, fertilizers, seeds, market access, and joint research projects. The objective is to drive innovation and ensure mutual benefits for farmers in both India and Russia, with India exploring possibilities for exporting its food grains and horticultural produce.
