India will be self-reliant in fertiliser production by 2023-24 as new manufacturing units are being set up across India, with an investment budget of ₹40,000 crore, Fertilisers Minister D V Sadananda Gowda said on Sunday.
The initiative that comes under Atma Nirbhar Bharat programme will help reduce dependency on imports. Currently India imports fertilizers from the United States, Iraq, Saudi Arabia, UAE and so forth.
Gowda was addressing a webinar organised by cooperative IFFCO for farmers of Karnataka. He said the government is promoting nano fertilisers as these are 25-30 per cent cheaper and give 18-35 per cent higher yield.
"Using organic and nano-fertilizer instead of fertilizers will reduce the cost of farmers and improve soil health. Prime Minister Shri Narendra Modi has suggested that this manure method should be encouraged more," the statement released read.
He also lauded the IFFCO's experiment in nano-fertilisers which has received good feedback from farmers and become a game changer.
IFFCO is also promoting environmentally friendly practices such as 'Sagarka', bio-fertilizers, neem cakes, biopesticides and natural potash consumption to boost the growth of naturally grown sea weeds in line with the Pm's 'priority' for 'locality'.
As the Financial Express reported, presently, the fertiliser production of the country is 42-45 million tonnes, and imports account for 18 million tonnes. To promote indigenous industries, the minister said all fertiliser companies are converting themselves to a gas-based technology.