India Fertilizer Market outlook by 2034
India is among the world’s largest consumers of fertilizers, with usage crossing 64.8 million metric tons (MMT) during FY 2023-2024, supported by heavy government subsidies. Shifts in policy, efficiency mandates, and farmer-centric innovations are reshaping demand patterns across nitrogen, phosphate, and potash categories. The government’s One Nation One Fertilizer policy, coupled with DBT (Direct Benefit Transfer) subsidy mechanisms, is pushing companies to balance affordability with innovation.
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