NEW DELHI, June 14. /TASS/. The Indian delegation led by Minister of Health and Family Welfare and Chemical and Fertilizers Mansukh Mandaviya will take part in the St. Petersburg International Economic Forum (SPIEF), the Hindu newspaper reported on Tuesday adding that the focus will be on fertilizer and potash supplies.
According to the publication, potash supply was hit in February as Western sanctions targeted Russia, the leading supplier of potash in the global market.
"Russia currently holds surplus food grains, lentils, spices such as coriander, iron and steel, minerals, fertilizers, timber and papers and other commodities and is looking for access to new markets in the Global South," the newspaper noted.
Earlier, the SPIEF used to attract large number of European and also north American participants. But that is unlikely this year because of the sanctions. This means India, China, and other Asian and African countries will be in focus, the publication said.
The Indian delegation will focus on securing fertilizer supplies from Russia, the newspaper said citing sources.
"One of the main reasons for this official focus on fertilizers is the disruption in the supply of potash, which is a key component in fertilizers of which Russia is a leading producer. As India enters the monsoon season and the kharif cultivation, there is a need to ensure steady supply of potash by the end of this summer," the sources said.
The St. Petersburg International Economic Forum organized by Roscongress Foundation will be held on June 15-18. The theme of the forum this year is dubbed: New Opportunities in a New World. The event will also include the SME Forum, the Creative Business Forum, the Drug Security Forum, the SPIEF Junior Dialogue and SPIEF Sport Week. TASS acts as the official photo hosting agency and the information partner of the event.