In an interview, Dr. Rajiv Kumar Gupta (IAS), Managing Director, Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC), with Chemical Today Magazine delves into the ways in which India’s fertilizer industry is meeting the growing demands of the country with innovation and technology.”
By Shivani Mody
Trends in Indian fertilizers market.
India is the second largest consumer of chemical fertilizers in the world. The annual growth rate of fertilizer production in India since FY 13 is 4 percent at a compounded annual rate. Given that the food demand is only likely to increase in India and available cultivable land being limited, it is only possible that the demand for fertilizer is also going to increase.
India’s requirement of major fertilizers like Urea, DAP, and MOP stands at roughly 300 Lakhs MT, 90 Lakhs MT and 60 Lakhs MT respectively against the domestic production of approximately, 250 lakhs MT, 40 to 45 Lakhs MT of Urea and DAP respectively. There is no domestic production of MOP as of now. It is evident that the mismatch between demand and supply is significant.
The current Indian government’s fertilizer policy is expected to reduce dependency on imports of fertilizers, in turn promoting the indigenous production and giving a thrust to Make in India program. In view of this, the Indian fertilizer sector has ‘tremendous’ potential for growth, in the coming years. On the other hand, 100 percent neem coating of urea and introduction of Direct Benefit Transfer (DBT) has also improved efficiency of urea application and better availability of fertilizers to farmers.
Corresponding scenario of the chemicals market
Indian Chemical Sector is worth nearly $150-155 billion at present and is growing at 9-10 percent annually. It is expected to double its size to $300 billion by 2025. The manufacturing sector has a dependency on the chemical industry for its growth and increase in manufacturing activity will automatically lead to higher demand for chemicals.
Read more: Enriching the Indian soil
In an interview, Dr. Rajiv Kumar Gupta (IAS), Managing Director, Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC), with Chemical Today Magazine delves into the ways in which India’s fertilizer industry is meeting the growing demands of the country with innovation and technology.”
By Shivani Mody
Trends in Indian fertilizers market.
India is the second largest consumer of chemical fertilizers in the world. The annual growth rate of fertilizer production in India since FY 13 is 4 percent at a compounded annual rate. Given that the food demand is only likely to increase in India and available cultivable land being limited, it is only possible that the demand for fertilizer is also going to increase.
India’s requirement of major fertilizers like Urea, DAP, and MOP stands at roughly 300 Lakhs MT, 90 Lakhs MT and 60 Lakhs MT respectively against the domestic production of approximately, 250 lakhs MT, 40 to 45 Lakhs MT of Urea and DAP respectively. There is no domestic production of MOP as of now. It is evident that the mismatch between demand and supply is significant.
The current Indian government’s fertilizer policy is expected to reduce dependency on imports of fertilizers, in turn promoting the indigenous production and giving a thrust to Make in India program. In view of this, the Indian fertilizer sector has ‘tremendous’ potential for growth, in the coming years. On the other hand, 100 percent neem coating of urea and introduction of Direct Benefit Transfer (DBT) has also improved efficiency of urea application and better availability of fertilizers to farmers.
Corresponding scenario of the chemicals market
Indian Chemical Sector is worth nearly $150-155 billion at present and is growing at 9-10 percent annually. It is expected to double its size to $300 billion by 2025. The manufacturing sector has a dependency on the chemical industry for its growth and increase in manufacturing activity will automatically lead to higher demand for chemicals.
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