Amidst the imposition of a heavy 50% tariff by US President Donald Trump against India, Russia's Deputy Prime Minister Dmitry Patrushev may visit New Delhi this month.
Moscow: Amidst ongoing tariff tensions with the United States, Russia's Deputy Prime Minister Dmitry Patrushev may visit New Delhi this month. Patrushev, who specializes in the agricultural sector, has the primary agenda of increasing fertilizer supply and importing shrimp from India during his visit. India is the largest supplier of shrimp to the US, but this trade has been severely impacted after the 50% tariff imposed by Trump.
In this context, Russia can become an attractive market for Indian shrimp exporters. Patrushev's visit can help improve Russia's shrimp import strategy and strengthen India-Russia trade.
India's Strategy After US Tariffs
The United States has imposed a 50% tariff on Indian shrimp, increasing competition for Indian exporters in the American market. India's shrimp exports to the US were the largest, but this trade has now been affected due to the increase in US duties. A significant portion of total US shrimp imports comes from India, but after Trump's tariffs, India is facing stiff competition from countries like Ecuador, Indonesia, Vietnam, and China.
In this situation, Russia's shrimp market can become a new opportunity for Indian exporters. Trade discussions are likely to take place with key Indian ministers during Patrushev's visit, which could enhance cooperation in the agricultural and marine products sectors between the two countries.
Potential Visit of Russia's Deputy Prime Minister
The main objectives of Dmitry Patrushev's visit include:
- Increasing fertilizer supply in India.
- Providing a new and attractive market in Russia for Indian shrimp exporters.
- Strengthening bilateral trade cooperation in agricultural and marine products.
Experts believe that Russia can be a strategic option for Indian shrimp exporters. Patrushev's visit can prove significant in advancing the trade relations between the two countries and providing relief to India from the pressure of US tariffs.
America's Tariff War
The Trump administration has adopted an aggressive stance of increasing tariffs against India and China. Recently, at a meeting of G-7 foreign ministers, the US demanded the imposition of tariffs on India. US Secretary of State Scott Besant stated during the meeting that the G-7 should support the US in imposing tariffs on countries that purchase oil and other resources from Russia.
Under this plan, the US is pressuring India to impose tariffs ranging from 50% to 100%. According to the Trump administration, India is contributing to the funding of the war in Ukraine by purchasing oil from Russia. However, India has explicitly rejected these allegations, calling them unfair and unjust.
PM Modi's Next Strategy
Under the leadership of Indian Prime Minister Narendra Modi, India is exploring alternative markets to mitigate the impact of tariffs imposed by the US. The plan to increase trade and agricultural cooperation with Russia is part of this effort. By increasing partnership with Russia in the areas of shrimp and fertilizers, India can protect its exporters from losses and maintain trade stability.
