India unlikely to face food, fertiliser crisis despite global headwinds: Report
The 16th Finance Commission chairman, Arvind Panagariya, stated that India is well-positioned to avoid a food or fertiliser crisis despite global conflicts. He noted that domestic production and diversified imports have successfully mitigated the impact of energy shocks and supply chain disruptions.
Why it matters
Ensuring food and fertiliser security is critical for India's massive agricultural sector and overall economic stability amidst ongoing geopolitical tensions in West Asia and Ukraine.
NEW DELHI: India is unlikely to face a major food or fertiliser crisis, despite ongoing global conflicts, the Finance Commission chairman said on Saturday.Speaking to news agency ANI, 16th Finance Commission chairman Arvind Panagariya said the country has bolstered its fertiliser supplies and shown that it can withstand recent energy shocks.Earlier this week, foreign minister S Jaishankar said that the Ukraine and West Asia conflicts were affecting grain exports and fertiliser production, while energy costs and tighter financial conditions were adding further strain on developing economies."If we look at our recent experience with the war in West Asia and the way we were able to handle the energy side, I do not think there is anything here that we need to fear very seriously," Panagariya said.He noted that India's fertiliser position had strengthened, partly because domestic plants had been restarted, and that supplies could also be obtained from other countries."There…
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