KAZAN, October 22. /TASS/. Russian companies are ready to increase fertilizer supplies to India, but the EAEU and India could conclude a free trade agreement to remove existing barriers, head of the Russian Association of Fertilizer Producers Andrey Guryev told TASS.

"We are ready to further increase the volume of mineral fertilizer supplies to India. However, our capabilities are limited by trade barriers that increase the cost of products for end consumers in India," he said.

According to Guryev, after the introduction of Western sanctions, India became the leader in terms of growth of Russian fertilizer supplies. Russia accounts for a quarter of the total volume of Indian fertilizer imports. In 2022, fertilizer supplies from Russia to India increased almost threefold, to 4.3 million tons, and in 2023 they grew by another one and a half times. However, India has a 5% duty on imported mineral fertilizers, Guryev said.

"If it is lifted, Indian farmers will benefit both in terms of price and in terms of increased use of highly effective environmentally friendly fertilizers. We believe it would be appropriate to intensify work on concluding an agreement on the creation of a free trade zone between the EAEU and India in order to remove this barrier," he stressed.

The BRICS summit is under way in Kazan from October 22 to 24. On the sidelines of the summit Russian President Vladimir Putin is holding a series of high-level talks, including with Indian Prime Minister Narendra Modi.