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India should address its high dependence on foreign fertilisers

BUSINESS ECONOMICS

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April 01 - 30, 2023

India has the largest area under cultivation in the world. Its farming land constituted 169.3 million hectares (mh) in 2019. India uses more land for crop cultivation than the US (160.4 mh), China 135.7 mh), Russia (123.4 mh) or Brazil (63.5 mh). 

- Kishore Kumar Biswas

India should address its high dependence on foreign fertilisers

It has the highest rainfall in the world, nearly 1,200 mm a year. This has been 475 mm for Russia, 650 mm for China and 755 mm in the US. So, India has no inadequacy of land, water, and sunshine to maintain a developed agricultural sector. But these are not all. The country is plagued by a weak fertilizers policy and other institutional factors including improper political will to have a people oriented vibrant agricultural sector.

India has been an agricultural country. About 60% of the population depend directly on agriculture. It has achieved self-sufficiency in food production and many other agricultural products. Per-capita food availability has increased in the past decades as agriculture grew more than the growth rate of population. It also exports a lot of agricultural products. So, the importance of fertilizers and pesticides is very high in a country like India. This is why the fertilizer industry has been considered as a core sector in India's industrial base.

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Rupee has weakened

The rupee has weakened significantly over the past year, falling from 84.7 to 89.7 against the US dollar. Its depreciation has been even sharper against the euro (9.4 per cent) and the British pound (14.3 per cent). It has also lost value against the Japanese yen and the Chinese yuan. In nominal terms, therefore, the rupee has depreciated against all major global currencies.

time to read

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2 mins

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Nobel Prize in Physiology or Medicine 2025 Significance of the Laureates' Work in the Medical World

Mary E. Brunkow, Fred Ramsdell, and Shimon Sakaguchi have been awarded the 2025 Nobel Prize in Physiology or Medicine for their pioneering discoveries on peripheral immune tolerance—the mechanisms that prevent the immune system from attacking the body’s own tissues.

time to read

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December 1 - 31, 2025

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The RBI's Balancing Act: Strategy and Execution in 2025

In 2025, the Reserve Bank of India (RBI) has adopted a cautious yet steady monetary policy, distinguishing itself from the more aggressive actions of several global central banks.

time to read

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From stagnation to surge: 10 reasons the Indian market rallied hard

The Indian stock market spent most of 2025 moving sideways in a narrow and frustrating band.

time to read

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Uttar Pradesh witnesses renovations of pilgrimage sites propelling multi-dimensional growth

Last month, Prime Minister Narendra Modi ceremonially hoisted the saffron flag, the Dharma Dhwaj, atop the Ram Temple in Ayodhya, marking the completion of the temple's construction.

time to read

3 mins

December 1 - 31, 2025

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