India's tea, rice, and other grocery exports to Russia have resumed

By B2B Desk | Apr 19, 2022

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Russia continues to supply emergency supplies from Indian traders and exporters of agriculture as supplies flowed from grocers, and EU shipments have also been suspended for the second straight month. The menu includes jam, mango jam, paste, oatmeal, cake mix, paste, basmati, coffee, tea, crows, rum, ketchup, shrimp.

India and Russia are working on an alternative payment mechanism using rupees and rubles after the US-West Indians banned some Russian banks from joining the Society for Financial Interbank Financial Communications system.

    

Russia is also calling on the Indian Association of Agribusiness and Industry and Retailers to jointly raise the Indo-Russian-Russian agriculture complex in the Astrakhan Lotus special economic zone in southern Russia to produce food, grocery, spices and other household goods. Great pain in the area. Dependency on import of food and agricultural products.

The Russian embassy in New Delhi shared the list of agency requirements with the Indian Federation of Export Organizations (FIEO). The export promotion management team plans a buying and selling conference on Tuesday to compare Russian companies with Indian vendors.

A government official, who asked not to be disclosed, said commercialization in foods and agricultural crops could not be solved because there were no penalties for food and drugs.

According to the media, Russian shops lack basic products such as sugar, pasta and rice. Several large Russian companies requested the Russian Embassy in New Delhi to find supplies of various products in India. One day promotion event for importers from Russia and exporters from India. Ajay Sakhi, CEO and CEO of FIEO said: "There is a lot of interest in products in Russia and a lot of demand".

     

The Russian Trade Association and also the All India Merchants' Association (CAIT) has been converted to shoes, synthetic apparel and apparel.

“Russians are looking for food in the EU, UK and US. They immediately sent out a list of necessary things. We have distributed this list to vendors across India," Praveen Khandelwal, agency secretary said.

Indian retailers and manufacturers have responded eagerly to do business with Russia so that the two governments have reached a settlement on the payment mechanism. This could mean the markets of the EU, the UK and the US will be restored to Russia. He adds that the first few batches can depart as soon as June.

Although machine solutions and routes of delivery are unclear, Indian retailers see this as an opportunity to sell. Given EU intransigence, Russia has no choice but to offer a competitive price to India. "We see this as a great opportunity," said a Delhi fast food vendor, who asked not to be named.

The alternative payment mechanism is reportedly between the Russian State Development Bank (VEB) and the Reserve Bank of India (RBI) for Rapid Local Currency Transactions. For sea transport there is only one port in Georgia that delivers Russian goods. The Russian embassy remained inert at the time of this release.

Also Read: Top targeted mutual funds to invest in 2022

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