Govt Bears Burden Of Elevated Global Fertiliser Prices To Safeguard Farmers: Goyal

(MENAFN- IANS) New Delhi, May 23 (IANS) Commerce and Industry Minister Piyush Goyal said on Saturday that in terms of elevated fertiliser prices, the costs have not been passed on to farmers and the entire burden has been fully borne by the Central Government.

“In every respect, India has demonstrated to the world an economy that is self-confident, progressing on the path of self-reliance, and engaging with the world on equal and fair terms,” the minister said during a news briefing here.

This is reflected in the nine free trade agreements (FTAs) India has entered into, as well as in the highly successful visit of Prime Minister Narendra Modi to five nations, which yielded positive outcomes across sectors.

“India's current position is not a matter of chance. It is the result of 12 years of structural reforms, focused strategies, outcome-oriented actions, and transformational initiatives taken by the Central Government under the leadership of Prime Minister Modi,” said Goyal.

He said a free trade agreement (FTA) between India and Canada will unlock massive investment opportunities for our country and contribute to the mutual growth of both nations.

India's fertiliser security remains strong and stable with the government having scaled up domestic production and imports to ensure availability consistently exceeds requirements of farmers across all major categories amid the Middle East crisis.

The country currently holds a comfortable stock of 199.65 LMT, covering more than 51 per cent of the seasonal demand, which is a sharp increase from the usual buffer levels of approximately 33 per cent at this time of the year. This reflects improved advance stocking and efficient logistics management, the government informed earlier this month.

Following a recent crisis period, domestic production and imports have been scaled up rapidly, adding approximately 97 lakh metric tonnes (LMT) to the total availability. Domestic production alone contributed 76.78 LMT, while imports reaching Indian ports accounted for 19.94 LMT.

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