India is engaging in discussions with Russia to import wheat at a discount as a strategic move to increase supplies and control food inflation in anticipation of upcoming state and national elections, according to reliable sources.
Reportedly, the potential Russian wheat imports are part of a broader strategy to alleviate inflation’s impact on staple commodities like fuel, cereals, and pulses.
Given Russia’s newfound prominence in India’s trade landscape since the Ukraine conflict. There’s a willingness to extend discounts on prevailing market prices
With India’s wheat output anticipated to be at least 10% lower than government estimates, discounted Russian imports could provide a vital solution to the supply-demand imbalance.