INDIA - One of the world's leading dairies is close to shipping Indian dairy products to Russia.
Gujarat Cooperative Milk Marketing Federation (GCMMF), makers of Amul brand dairy products, has said that exports will commence when necessary regulatory approvals are received.
The approvals are expected to be through in the next two to three months, GCMMF managing director, R S Sodhi said to reporters recently.
Successful Russian inspections have met official approval but regulatory issues remain before trade starts, stated Mr Sodhi.
The cooperatives revenues during 2014-15 financial year may cross $3.5 billion, as compared to $2.85 billion earned during 2013-14 fiscal year, he added.
Investments in expanding capacity would reach $630 million to 790 million in the next three years, he added.
Recently, GCMMF had said it is in discussion with Galactika Group to export dairy products to Russia.
Amul would become the first Indian dairy to enter the Russian market, which is to be a lucrative market for Indian dairy, according to Amul.
Russia presents huge potential for Indian exports as 30 percent of that country's dairy requirements are imported, concluded Mr Sodhi.