New Delhi, May 23 (IANS). Commerce and Industry Minister Piyush Goyal said on Saturday that the burden of increase in fertilizer prices has not been passed on to the farmers and the entire burden has been borne by the Central Government.
In every sense, India has given the world an example of an economy that is on the path of self-reliance and is establishing relations with the world on equal and fair terms, the minister said during a press conference here.
This is reflected in the nine free trade agreements (FTAs) signed by India and Prime Minister Narendra Modi’s successful visits to five countries, which yielded positive results across sectors.
Goyal said that the current situation of India is not accidental. It is the result of 12 years of structural reforms, targeted strategies, result-oriented actions and transformational initiatives undertaken by the Central Government under the leadership of Prime Minister Modi.
He said that the Free Trade Agreement (FTA) between India and Canada will open up vast investment opportunities for our country and contribute to the mutual development of both the countries.
Amid the Middle East crisis, India’s fertilizer security remains strong and stable. By increasing domestic production and imports, the Government has ensured that fertilizers are available in excess of the requirements of all major categories of farmers.
The country currently has adequate reserves of 199.65 lakh metric tonnes (LMT), which meets more than 51 per cent of the seasonal demand. This is much higher than the normal buffer level at this time (about 33 percent). The government said earlier this month that this reflected better advance stocks and efficient logistics management.
After the recent crisis period, domestic production and imports have been increased rapidly, increasing the total availability by about 97 lakh metric tonnes (LMT). Domestic production alone contributed 76.78 lakh metric tonnes (LMT), while the contribution of fertilizers imported at Indian ports was 19.94 lakh metric tonnes (LMT).
–IANS
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