Commerce and Industry Minister Piyush Goyal stated that despite rising fertilizer prices, farmers have not faced any additional financial burden as the government has absorbed the increased costs entirely. Goyal highlighted India’s self-reliant economy and fair global engagement during a press briefing in New Delhi.
India’s proactive approach is evident through nine free trade agreements and Prime Minister Narendra Modi’s successful visits to five nations, resulting in positive outcomes across various sectors. Goyal credited India’s current economic strength to 12 years of structural reforms and strategic actions led by Prime Minister Modi.
Goyal emphasized the potential benefits of a forthcoming free trade agreement between India and Canada, emphasizing the significant investment opportunities it will unlock for both countries. India’s fertilizer security remains robust, with increased domestic production and imports ensuring ample supply surpassing farmers’ needs amidst the Middle East crisis.
The country’s fertilizer stockpile stands at 199.65 LMT, covering over half of the seasonal demand, a substantial rise from the typical buffer levels of around 33%. This improvement reflects enhanced stocking practices and efficient logistics management, as per government reports. In response to recent challenges, both domestic production and imports have been ramped up significantly, boosting total availability by 97 lakh metric tonnes.
