National Investment Policy to boost urea production

The Centre on Wednesday approved the National Investment Policy (NIP) for Urea-2026, which aims to make the country self-reliant in the production of fertiliser, Information and Broadcasting Minister Ashwini Vaishnaw told the media on Wednesday.

A proposal of this effect was approved by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi. The CCEA approved the proposal piloted by the Department of Fertilizers. According to a statement, the policy will encourage new investments in the urea sector for setting up gas-based manufacturing units in India.

“Setting up of new urea manufacturing units will be covered under the NIP for Urea-2026 for Atmanirbhar Bharat (NIPU-2026),” the statement said, adding that under the New Investment Policy-2012, six new urea units have been set up, including four through Joint Venture Companies of nominated PSUs, and two by private companies. The period for new investment under NIP-2012 expired in October 2019. “There are 33 operational urea-manufacturing units with reassessed/installed capacity of 269.42 LMT. There is a need to increase the indigenous production of urea.”