Sources say that an Indian fertilizer company plans to sign an agreement with a Russian company to build a factory in Russia.

According to three sources, Indian companies are expected to sign an agreement with Ural Chemical Group, Russia's largest producer of potassium fertilizer and ammonium nitrate, to jointly build a urea plant during Russian President Putin's visit to New Delhi on Friday. The project aims to strengthen India's long-term fertilizer security, with Indian Potash Limited and Rashtriya Chemicals and Fertilizers Limited holding 22.5% each of the joint venture. The sources added that National Fertilizers Limited of India will hold 5% of the shares, while Ural Chemical Group will hold the remaining shares and lead the project. As the third largest economy in Asia, India heavily relies on imported nutrients for crops to support its vast agricultural sector, which employs around 40% of the workforce and accounts for 15% of its nearly $4 trillion GDP.