Search Result for : Fertilizers

The Dollar Business Bureau Though India’s trade deficit may reach around $150 billion annually and the level of imports is much higher over exports, the country doesn’t have much flexing power, it the world witnesses an escalation in trade war, said the industry body Associated Chambers of Commerce of India (ASSOCHAM). “We cannot flex too much of our importing muscle, even if our exports face consequences of trade war and are subjected to tariff barriers,” ASSOCHAM in a statement on Sunday. The industry body pointed out that the best course in this situation would be to continue our engagement with the key trading partners, without aligning ourselves too much into a single bloc. “Wherever, our exports are affected, we must engage bilaterally and use ...

The Dollar Business Bureau Rising global demand for potash a widely used fertiliser, could make India sign costly import contracts in 2017 compared to that of last year. Incidentally, in April the government has decided to reduce the subsidies to the farmers thereby reducing the demand of potash in the country. India is one of the top buyers of the crop nutrient and helps set the global benchmark along with China. Its contract prices are keenly watched by other buyers like Indonesia and Malaysia. Recently two of the biggest potash producers, Potash Corp of Saskatchewan and Russia's Uralkali, have tightened the prices of potash by reducing their output. Potash Corp expects global shipments this year to increase to 3 million tonnes compared to that of ...

The Dollar Business Bureau The availability of overall fertilisers in the country is 129.92 lakh MT, which surpasses the overall demand of 95.84 lakh MT, said Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya on Tuesday. “The availability of fertilisers far exceeds their requirement in the country,” Mandaviya said in a written reply to a question in Lok Sabha. “Nowadays, scarcity of fertilisers has become a thing of the past in the country which has been possible due to the visionary policies of current Government,” he added. The availability of urea, which is largely used by farmers in the country, is 80.28 lakh MT against the requirement of 63.64 lakh MT, informed Mandaviya. The availability of other fertilisers such as DAP (Diammonium phosphate) and NPK ...

The Dollar Business Bureau  India and Jordan discussed ways of increasing bilateral trade and deepening their engagements for greater cooperation in investment sector at the 10TH India-Jordan Trade and Economic Joint Committee (TEJC) Meeting on Wednesday. During the TEJC meeting, the two sides also reaffirmed their mutual interest and discussed the roadmap for cooperation in various fields such as Fertilizer Sector, Customs, Double Taxation Avoidance Agreement, Visa and Consular issues, Health and Pharmaceuticals, Micro, Small and Medium Enterprises, Maritime Transport, Rail Transport, and Air Transport, Renewable Energy, Energy Efficiency, and Smart Grid development, Information Technology, Higher Education and Vocational Training, Agriculture sector etc. The government press release said, that the Indian side represented by the Commerce and Industries Minister, Nirmala Sitharaman and Yarub ...

By Abin Daya It just might be that things are slowly falling in place for the Indian economy. The Nikkei Purchasing Manager’s Index for Manufacturing and Services has positive news, both in performance and sentiments. What we now need is better capacity utilisation leading to improvement in private investment. A good monsoon this year should create that. Some indication of that is also seen in the performance of the infrastructure industries during the month of March. Performance improved from 1% growth in Feb, to 5% growth in Mar, though it was far from the 9.3% growth achieved a year back. While growth for the full year improved from the previous FY, the fertiliser industry seems to have been badly affected. One topic that ...

The Dollar Business Bureau Inching closer to launch the direct benefit of transfer (DBT) scheme in the fertiliser sector, the Government has taken a decision that from June onwards fertiliser subsidies will be paid to the manufacturers post-sale of soil nutrients through point of sale (PoS) machines at the retail stage. The step will help in reducing the bill for fertiliser subsidy of the government by around 20% through plugging leakages and diversion. The Central government has provided more than Rs.70,000 crore as payment for subsidies in the current fiscal. Currently, the payment of subsidy is made to manufacturers after they provide the dispatch-from-plant or receipt -at-district. “From the kharif season this year, the subsidy will be transferred to the company the moment fertiliser gets sold via the point ...

The Dollar Business Bureau Coal India Limited announced that it has entered into an agreement with state-run power company NTPC Ltd. for revival of its two fertilizer plants. According to the deal, the 50-50 joint venture between Coal India and NTPC will establish and operate new fertiliser (ammonia urea) complex at Gorakhpur in Uttar Pradesh and Sindri in Jharkhand units of the Fertiliser Corporation of India Limited (FCIL). The joint venture will also market FCIL’s products. "The Ministries of Coal and Power directed CIL and NTPC to enter into joint venture for revival of these projects and hence a JV agreement was signed between the two companies," CIL said in an announcement. During the meeting held at the Prime Minister’s office, both Coal and ...

The Dollar Business Bureau The widespread drought condition in the country will have serious concerns on the Indian economy. The impact on the economy is likely to be Rs.6,50,000 crores (over $100 billion) as more than 33 crore people in 256 districts are facing severe drought situation, as per a study by the Associated Chambers of Commerce & Industry of India (ASSOCHAM). According to it, the weekly rainfall in India during the pre-monsoon season (March-April) was 19% less than the Long Period Average (LPA). The cumulative rainfall during this season was 8% less than LPA. As per recent estimates, shortage of water in reservoirs and in the lower levels of ground water are serious concerns for the people and administration in the ...