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India is primarily an agriculture based economy. The agricultural sector and its other associated spheres provide employment to a large section of the country's population and contribute about 25% to the GDP. The Indian Fertilizer Industry is one of the allied sectors of the agricultural sphere. India has emerged as the third largest producer of nitrogenous fertilizers. The adoption of back to back Five Year plans has paved the way for self sufficiency in the production of food grains. In fact production has gone up to an extent that there is scope for the export of food grains. This surplus has been facilitated by the use of chemical fertilizers. The large scale use of chemical fertilizers has been instrumental in bringing about the green revolution in India. The fertilizer industry in India began its journey way back in 1906. During this period the first Single Super Phosphate (SSP) factory was established in Ranipet in Chennai. It had a capacity of producing 6000 MT annually. In the pre and post independence era a couple of large scale fertilizer units were established namely the Fertilizer Corporation of India in Sindri, Bihar and the Fertilizer & Chemicals Travancore of India Ltd in Cochin, Kerala. The Indian government has devised policies conducive to the manufacture and consumption of fertilizers. Numerous committees have been formed by the Indian government to formulate and determine fertilizer policies. The dramatic development of the fertilizer industry and the rise in its production capacity has largely been attributed to the favorable policies. This has resulted in large scale investments in all three sectors viz. public, private and co-operative. At present there are 57 large scale fertilizer units. These manufacture an extensive range of phosphatic, nitrogenous and complex fertilizers. 29 of these 57 units are
engaged in the manufacturing of urea, while 13 of them produce Calcium Ammonium Nitrate and Ammonium Sulphate. The remaining 20 fertilizer plants manufacture complex fertilizers and DAP. There are also a number of medium and small scale industries in operation, about 72 of them. The following table elucidates the installed capacity of each sector.
Sl. No N 1 2 3
Sector P Private Sector Public Sector Cooperative Sector Total
Capacity (LMT) N 53.94 34.98 31.69 P 35.13 4.33 17.13
44.73 29.0 26.27
62.08 7.65 30.27
The Department of Fertilizers is responsible for the planning, promotion and development of the Fertilizer industry. It also takes into account the import and distribution of fertilizers and also the financial aspect. There are four main divisions of the department. These include Fertilizer Imports, Movement and Distribution, Finance and Accounts, Fertilizers Projects and Planning and Administration and Vigilance. It makes an assessment of the individual requirements of the states and union territories and then lays out an elaborate supply plan.
India produces both nitrogenous and phosphatic fertilizers in the domestic market. Notwithstanding these specificities.Though the soil in India is rich in silt. it lacks chief plant nutrients like potassium. . The fertilizer sector in India holds a major share among the energy intensive industries of the country. The country has also emerged as one of the largest consumers of fertilizers along with China and the United States of America. inter alia. Urea and ammonium are the two popularly manufactured nitrogenous fertilizers in India. the lack of major plant resources such as nitrogen. The various companies dedicated to the manufacture of fertilizers also produce straight phosphatic fertilizers such as single super phosphate and complex fertilizers such as di-ammonium phosphate or DAP. The industry has shown unparalleled growth in the past few years. The fertilizer industry earlier witnessed the preponderance of the public sector units who still retain their status as the major players in Indian fertilizer market. The increase in the production of fertilizers and its consumption acts as a major contributor to overall agricultural development. phosphate and potassium. The lack of indigenous reserves of potash in India has stunted the production of potassic fertilizers in the country. Although growing in an accelerating rate. nitrogen and phosphate. India has emerged as the third largest producer of the agro-input. Major Players in Indian Fertilizer Market The development trajectory of the agricultural industry derives its main stimulus from the growth in production of fertilizers in India. the industry is faced with a number of challenges. Coupled with the private enterprisers manufacturing fertilizers.
2007 The government has established nine public sector undertakings in the Indian fertilizer market and one cooperative society. capacity utilization of nitrogenous fertilizers is higher in the public sector.01.The Indian fertilizer industry has a capacity of 56 lakh MT of phosphatic nutrient and 121 lakh MT of nitrogen. . Sector-wise. 9 units produce ammonium sulphate while 38 units produce urea. While the private sector has a huge installed capacity for phosphatic fertilizers. Among these. There are 79 small and medium scale units producing single superphosphate. known as the Krishak Bharati Cooperative Limited (KRIBHCO) that functions under the supervision of the Department of Fertilizers in India. There are 63 large units dedicated to the production of fertilizers. Nutrient-wise Installed Fertilizer Manufacturing Capacity as on 31.
677 Crore in the September. Zauri Chambal. The fertilizer industry in India shows an upward rising trend that would challenge the broader market in future years. BEC Fertilizers and Gujarat State Fertilizers &Chemicals Limited. Some of the companies dedicated to the production of fertilizers include Khaitan Chemicals and Fertilizers Limited. 20.The public sector companies in Indian fertilizer market are listed below: y Fertilizer Corporation of India Limited (FCIL) y Hindustan Fertilizer Corporation Limited (HFC) y Pyrites. Jodhpur Along with the public sector units. the sector will witness burgeoning production that will reach new heights in the coming years. . Most of the companies are expecting an approval for their huge capital expenditure plans from the Department of Fertilizers in India. With an outstanding investment of Rs. there has been a euphoric growth in the production of fertilizers in the private sector as well. 2007 quarter. Nagarjuna Fertilizers. Managalore Chemicals. Phosphates & Chemicals Limited y Rashtriya Chemicals and Fertilizers Limited (RCF) y National Fertilizers Limited (NFL) y Projects &Development India Limited (PDIL) y The Fertilizers and Chemicals Travancore Limited (FACT) y Madras Fertilizers Limited (MFL) y FCI Aravali Gypsum & Minerals India Limited. The flourishing industry will fill in the gap between demand and supply of fertilizers in India.
Mangalore Chemicals . Most of the companies also engage in exporting fertilizers in the global market. However. lack of indigenous reserves of potash does not support the production of potassic fertilizers in the country. single super phosphate and ammonium are produced by the companies in India. earning foreign capital from the business. The nitrogenous fertilizer production capacity is higher in the public sector units while the private companies in the Indian fertilizer market have a larger capacity for the production of phosphatic fertilizers.This is the only company in the state of Karnataka that is . India is also ranks among the highest consumers of fertilizers. Khaitan Chemicals and Fertilizers Limited has its office in Indore. which is dependent for its optimization on the fertilizer industry. Complex fertilizers such as diammonium phosphate are also domestically produced. The euphoric growth in the business has also facilitated the agricultural industry of India.Private Companies in Indian Fertilizer Market A number of private companies in the Indian fertilizer market are engaged in production of the agro-input. Phosphatic and nitrogenous fertilizers such as urea. Private Companies Producing Fertilizer in India Some of the private companies producing fertilizers in India are mentioned below:Khaitan Chemicals and Fertilizers Limited .This Company produces single super phosphate fertilizer and sulphuric acid. The country stands at the third position among the largest producers of the product in the world. The fertilizer is manufactured in the granular form in this company.
The company has established its unit in Bilaspur. chemicals and pesticides. urea plant and ammonia plant in the country. 800 crore. Nagarjuna Fertilizers .The primary business of this company based in North India is the manufacture of urea and other farm inputs such as DAP. Some of the other private companies engaged in the production of fertilizers in India are listed below: . The plant has an annual turnover of more than Rs. Gujarat State Fertilizers &Chemicals Limited . cement and chemicals. hybrid seeds. The company has established NPK plant. urea. finance and power. bio-fertilizers. DSCL . plant tissue culture and oleum. BEC Fertilizers . plant hormones and chemicals for the protection of plants. DAP plant.engaged in the manufacturing of chemicals and fertilizers. It also produces water soluble fertilizers.An undertaking of the K. Zauri Chambal . Along with fertilizers. Uttar Pradesh. The company manufactures the product ANAND single super phosphate along with other micro-nutrients. The company also provides engineering solutions and home finance. this company engages in the production of fertilizers such as urea.This multiproduct company is dedicated to the production of fertilizers such as ammonium sulphate. DAP and NPK. the company is engaged in the production of bio-fuels.With their office at Hyderabad. It also engages other activities such as refining petroleum.K Birla Group. this company is engaged in the production of fertilizers and agro-chemicals.This Company is dedicated to the manufacture pf agro-inputs that will facilitate the agricultural sector. The company was established in collaboration with the US Steel Corporation.
The private sector had only 13% share in the production in 1960-61. food has been the primary objective owing to its huge population. In India. To cater to the needs of the individual. Since the poor farmers could not afford to buy expensive fertilizing agents. therefore the fertilizer industry has wielded immense influence. Fertilizers have also played a pivotal role in India's food Security.y The Scientific Fertilizer Co Pvt Ltd y Coromandel Fertilizers y Deepak Fertilizers and Petrochemicals Corporation Limited y Apratim International y Aries AgroVet y Devidayal Agro Chemicals The production of nitrogenous fertilizer in the private sector has been increasing in the past few years. The government formulated the . Concluding remarks on Indian Fertilizer Industry The Indian fertilizer industry has helped in the growth of the Indian economy. like no other sectors in India. The fertilizer sector by enhancing the agricultural productivity has in turn resulted in providing a major support to the farmers who are primarily dependent on agriculture. The private sector has always retained a higher share in the production of phosphatic fertilizer production. For the Indian government. government top priority has been towards production of food grain. the government's interventionist policy helped in providing the farmers fertilizers at a reasonable cost.
Because of this. and technology. The fertilizer industry of India is not same in terms of stock. Increase in fertilizer consumption: Increase in fertilizer production: ts These periods also witnessed a rapid increase in food grain production. high yielding areas. which was estimated to be initially 121 million tons from 52 million tons and finally increased to 208 tons. the urea plants have been assorted into groups to reduce them from being diverse and incomparable under the NPS scheme. The Fertilizer Association of India (FAI) has been set up a model which is based on several factors that include fertilizer prices. The NPS has been modified. irrigated areas. At present the government has formulated a new pricing scheme (NPS) replacing the RPS. The following data compares the consumption against the production of fertilizers in India over the years.Retention Price-Cum Subsidy scheme which has been a major impetus for the fertilizing industry since 1977 to 1992. its yield. promoting further investment in the Indian fertilizer sectors. fertilizer .
India stands as the third largest fertilizer consumer and producer of the world. for which the fertilizer industry needs to lay more stress on the agricultural activities in the country. which is not enough for increasing the agricultural productivity. . An estimate of the demand and supply till the end of the 11 th five year plan is given in the chart below: Year Supply N+P Demand N+P+K 23125 24085 25035 25960 26900 Demand Supply Demand of K Gap N+P+K 2007-08 2008-09 2009-10 2010-11 2011-12 16950 17585 18595 19912 19965 8835 9305 9405 9178 10235 2660 2805 2965 3130 3300 Today. the main focus is on the improvement of the farm income. The population of the country is rapidly increasing at 1. This will also help to improve terms between the government agencies and the fertilizer industry in India. It has been observed that the subsidies on Indian fertilizer have been rising at constant rate.nutrient prices and previous years' fertilizer consumption. This is due to the rise in the cost of production and the inability of the government to raise the maximum retail price of the fertilizers. This requires higher production of food grains. The total cropped area is only 30% of the net geographical area.5% annually. Now.
some of the private companies. The overseas suppliers of raw materials realize the predicament of the Indian fertilizer industry and have started exploiting the shortage through clever pricing. This also reflects on the lack of realizing of the domestic capacity utilization of the reserves in the country. which demands a balance between the needs of the farmers and the fertilizer manufacturers. This has widened the gap between the demand and supply of fertilizers. The fertilizer industry is dependent on gas for the production of urea and phosphoric acid for the production of phosphatic fertilizers and DAP. The challenges before the Indian fertilizer industry relate to the incertitude in the supply of fertilizers.Challenges before Indian Fertilizer Industry The growth trajectory of the Indian fertilizer industry has camouflaged the impending challenges with which it is faced. The government is faced with the piquant situation. Another important factor that has led to the stunted growth of the fertilizer industry is the rise in prices of the feedstock. inadvertently increasing the consumption rate of fertilizers. which has led to an increase in the dependence of the country on imports. The country imports its inputs from other countries. Agricultural milieu in India could be jeopardized by the uncertainties in the fertilizer industry. In recent years. dedicated to the production of fertilizers . However. There has been a surge in the demand for fertilizers in the past few years. Growth and development of agriculture in India derives a significant stimulus from the fertilizer industry. the robust growth in consumption propensity has not been met with the required surge in fertilizer production. Good monsoonal showers have led to the growth in agriculture.
As a result. The government has introduced policies to decontrol the prices but delayed the implementation of the parameters that have not augured in favor of the industry. The small size of the older plants and the low efficiency of the public sectors also pose as drawbacks of the industry. the government of India is in need of long term realistic policies that would enable the industry to overcome the challenges and survive the present impasse. Although this has aided the industry. To retrieve the health and growth of the fertilizer industry. 50. Recent policies of the government are directed towards revamping of these industries and restoring them to health. . it has however been unable to reduce the government's burden of subsidizing the rates.have affectively taken stakes in the overseas sources of raw materials. The delay in decision making and obscurity in setting parameters are among some of the major drawbacks of the government policies directed towards the industry. The fertilizer industry is remained protected under the umbrella of the Retention pricing scheme of the Indian government.000 crore in the year 2008. The pricing of the fertilizers are also dependent on the freight charges that are Baltic dry index. The fertilizer industry is faced with other challenges inter alia infrastructural bottlenecks and the uncertainties in government policies. fertilizer subsidies continue to mount and are expected to cross Rs.
Some of the public sector undertakings in this sector are mentioned below: Fertilizer Corporation of India Limited (FCIL) . The company incurred a loss of Rs. Hindustan Fertilizer Corporation Limited was incorporated consequent to the reorganization of the NFL Group of Companies and the Fertilizer Corporation of India Limited. These function under the supervision of the Department of Fertilizers of India. ammonium sulphate. 1209. Namrup (Assam). Sindri (Jharkhand). The company has established four units at Durgapur (West Bengal). 1978. It has incurred a net loss of 964.10 Crore during the financial year of 2004-2005.Public Sector Companies in Indian Fertilizer Market There are a number of public sector companies in Indian fertilizer market producing complex fertilizers. 1961.This Company was established on 1st January. DAP.61 . Hindustan Fertilizer Corporation Limited (HFC) . The Indian industries producing fertilizers have to total capacity of 56 lakh MT of phosphatic nutrient and 121 lakh MT of nitrogen. It was later reorganized with the National Fertilizers Limited from 1978. there are nine public sector undertakings in the Indian fertilizer market and one cooperative society. calcium ammonium nitrate and urea. Of the 63 large units producing fertilizers in India. 9 units are dedicated to the production of ammonium sulphate and 38 units produce urea.Established on 14th March. Ramagundam (Andhra Pradesh) and Talcher (Orissa). FCI comprises of four units in Gorakhpur (Uttar Pradesh). There are 79 small and medium scale units dedicated to the production of single super phosphate. At present. Haldia (West Bengal) and Barauni (Bihar).
FACT is dedicated to the production of Ammonium Sulphate. The company has played a pivotal role in the designing.66 Crore at the end of the financial year of 2006.44 LMT of urea in the same year. The company has two established plants at Cochin. 235. 113. The company has its units in Trombay and Thal.This Company was incorporated in the year 1960 to explore the pyrites deposits in India. National Fertilizers Limited (NFL) . Phosphates & Chemicals Limited . NFL showed a post-tax profit of Rs.64 Crore in 2005-06.91 in the year 2005-2006.PDIL was registered in the yea 1978 after the reorganization of the Fertilizer Corporation of India. Pyrites. Projects &Development India Limited (PDIL) . The net worth of the company in the year 2000-2001 was 1366 Crore.This company was incorporated in the year 1978 consequently after the reorganization of the Fertilizer Corporation of India. Phosphates & Chemicals Limited incurred a net loss of Rs. It had produced 11447 tons of industrial nitrogen and 33.in the financial year 2005-2006. 10. Pyrites. In the year 2005-06.This company was incorporated on 23rd August. 1974. Phosphates & Chemicals Limited has three units at Amjhore (Bihar). Dehradun (Uttaranchal) and Saladipura (Rajasthan). The company has earned a net profit of Rs. procurement. The company earned a profit of Rs. engineering and supervision of the fertilizer companies and pants. Pyrites.Incorporated in the year 1943. Rashtriya Chemicals and Fertilizers Limited (RCF) . 116. inspection. The Fertilizers and Chemicals Travancore Limited (FACT) .40 Crore. It had two nitrogenous plants during its inception at Bathinda and Panipat. This recovered the loss incurred in the .
previous year. FCI Aravali Gypsum & Minerals India Limited.5 thousand tons of Urea in 2005-06. Madras Fertilizers Limited (MFL) . Some of the other companies engaged in the production of fertilizers are listed below: y Paradeep Phosphates Limited (PPL) y Neyveli Lignite Corporation Ltd. complex and bio-fertilizers and urea.MFL was registered in the year 1966. Jodhpur produced 8.54 LMT of gypsum in the financial year of 2005-06. MFL utilized 76% of its capacity to produce 368. The company has its plant in Chennai and is dedicated to the production of ammonia.2 thousand tons of complex fertilizers using 25% of its capacity. The company produced 208.This Company was registered as a government undertaking consequent to the reorganization of the Jodhpur Mining Organization. Jodhpur . (NLC) y Hindustan Copper Limited (HCL) y Steel Authority of India Limited (SAIL) . FCI Aravali Gypsum & Minerals India Limited.
. The policies pursued by the government are devised in response to the recommendations of the high-powered committees of the country. Growth.Government Policies and Indian Fertilizer Industry Government policies and Indian fertilizer industry share a direct nexus. This would enable the government to maintain prices of the fertilizers during the time of crisis. The government policies for the fertilizer industry are devised to ensure a sustainable growth and development path in one of the most intensive sectors of the Indian economy. The Retention Price Scheme introduced by the government followed the recommendation of the Marathe Committee that explored the possibilities of maintaining the farm gate prices of fertilizers. movement and distribution of the fertilizers and its successful policies have pitted India as the third largest consumer and producer of the agro-input in the world after China and the United States. productive growth and subsidies forming the crux of the economic objectives of the government. Production of foodgrain in India derives the main stimulus for its growth from the fertilizer industry. production and usage of the fertilizer industry are directly dependent on the government policies. The Sivaraman Committee Report (1966) highlighted the importance of the balanced use of fertilizers along with providing adequate credit support for its distribution and usage. with pricing mechanisms. The committee also provided inputs for realizing the importance of liberalization of fertilizer marketing that would promote the production of the domestic companies. The government has intervened time and again in determining the prices.
Group I comprised of imported ammonia or industrial units using gas while Group II included industries using naphtha or fuel oil. Reaching stagnancy.The first decontrol policies of the government were introduced in 1992 on the recommendations of the Joint Parliamentary Committee. The complex fertilizer industries were subdivided onto two categories in 2001 after the modification of the 1998 Tariff Commission. 2007. The industry will soar up new heights and create a new growth story with the clearance of the projects and the approval of the new policies. Phosphatic and potassic fertilizer industries were decontrolled by the government while urea industry continued to produce under subsidized rates. most of the bottlenecked projects have not been cleared by the Department of Fertilizers. marketing. The production of phosphatic fertilizers in India is heavily dependent on imports as the country is not endowed with phosphate raw materials. . Concessions to the naphtha based units were more than the other group as this showed lesser efficiency. Change in government policies is however often responsible for hampering new investments in the industry. Although the investment in this sector was Rs 20. the health of this industry can be restored with a more realistic policy pursued by the government. Other committees provided recommendations on the methods of promotion. 677 crore in September. The present objective of the government policies is to develop a long term program that would protect the interests of the domestic manufacturers and reduce the dependence of this industry on foreign imports. distribution and pricing of the fertilizers in India.
In the financial year 2002-2003. It also helps to preserve the benefits derived from profitable economic activities. the volume of commodity trading in India recorded a . The commodity derivatives constitute an important part of the commodity futures trading in the Indian financial market. The commodity derivatives are preferred for the reason that they provide the investors with a better opportunity of diversifying their portfolios in addition to what the bonds. The concept commodity trading in futures market has been put in use very recently in the Indian market. because these national level exchanges enable them to carry out commodity trading through futures contract even when they do not have any physical stock of the same. and real estates offer. In the same year the government also expanded the list of commodities that can be traded under the Forward Contracts (Regulation) Act. It was in the year 2003 that the Government of India took the first major initiative towards setting up multi-commodity exchanges across the nation.Commodity Trading in India The commodity trading in India has become very popular among the traders and retail investors in the recent times. Commodity trading in futures market comes in handy to minimize the risks arising out of fluctuations in demand and supple conditions. The policy initiatives to establish multi-commodity exchanges at the national level were aimed to make the commodity trading in India more cost effective and develop the system of risk management to ensure financial integrity. The multi-commodity exchanges have been quite helpful for the Indian retailers. Commodity trading through future contracting has been beneficial for the Indian economy in a number of ways. 1952. shares.
castor seed.8 millions. Sunidhi Consultancy.17 millions. Refco Sify Securities. The traders just need to have a separate bank account for the purpose. while the corresponding figure in the 2001-2002 fiscal stood at US$ 8070. The ISJ Comdesk (ISJ Securities). .significant increase. Both cash-settled and delivery mechanisms can be used for commodity trading in India. and ICICIcommtrade (ICICIdirect) are some of the well-known brokers that operate in the commodity exchanges of India. The total value of commodity exchanges in 2002-2003 amounted to around US$ 23391. the traders and retail investors need to take the help of the registered equity brokers of the respective exchanges. the National Multi Commodity Exchange of India Ltd and the National Commodity and Derivative Exchange are the three multicommodity exchanges that are functional in India. pepper. and soybean complex. All these three exchanges make use of electronic settlement and trading systems to ensure secured and hassle-free commodity trading. oilseed complex. To participate in the commodity futures trading. The commodities that are mostly traded through commodity exchanges in India include jute. It is very simple to start trading in the multi-commodity exchanges of India. The Multi Commodity Exchange of India Ltd. A commodity demat account with the National Securities Depository Limited is all that is required to initiate commodity trading in the National Commodity and Derivative Exchange of India.
phosphate and potassium. the lack of major plant resources such as nitrogen. The fertilizer industry earlier witnessed the preponderance of the public sector units who still retain their status as the major players in Indian fertilizer market.Major Players in Indian Fertilizer Market The development trajectory of the agricultural industry derives its main stimulus from the growth in production of fertilizers in India. India produces both nitrogenous and phosphatic fertilizers in the domestic market. Although growing in an accelerating rate. Urea and ammonium are the two popularly manufactured nitrogenous fertilizers in India. the industry is faced with a number of challenges. The Indian fertilizer industry has a capacity of 56 lakh MT of phosphatic nutrient and 121 lakh MT of nitrogen. India has emerged as the third largest producer of the agro-input. While the private sector has a huge installed capacity for phosphatic fertilizers. Coupled with the private enterprisers manufacturing fertilizers. The lack of indigenous reserves of potash in India has stunted the production of potassic fertilizers in the country. The country has also emerged as one of the largest consumers of fertilizers along with China and the United States of America. The fertilizer sector in India holds a major share among the energy intensive industries of the country. The various companies dedicated to the manufacture of fertilizers also produce straight phosphatic fertilizers such as single super phosphate and complex fertilizers such as di-ammonium phosphate or DAP. . The industry has shown unparalleled growth in the past few years. capacity utilization of nitrogenous fertilizers is higher in the public sector. Notwithstanding these specificities. inter alia.
Sector-wise. Nutrient-wise Installed Fertilizer Manufacturing Capacity as on 31. There are 63 large units dedicated to the production of fertilizers. known as the Krishak Bharati Cooperative Limited (KRIBHCO) that functions under the supervision of the Department of Fertilizers in India. 9 units produce ammonium sulphate while 38 units produce urea. Among these. The public sector companies in Indian fertilizer market are listed below: y Fertilizer Corporation of India Limited (FCIL) y Hindustan Fertilizer Corporation Limited (HFC) y Pyrites. There are 79 small and medium scale units producing single superphosphate.01. Phosphates & Chemicals Limited y Rashtriya Chemicals and Fertilizers Limited (RCF) .2007 The government has established nine public sector undertakings in the Indian fertilizer market and one cooperative society.
Managalore Chemicals. BEC Fertilizers and Gujarat State Fertilizers &Chemicals Limited.y National Fertilizers Limited (NFL) y Projects &Development India Limited (PDIL) y The Fertilizers and Chemicals Travancore Limited (FACT) y Madras Fertilizers Limited (MFL) y FCI Aravali Gypsum & Minerals India Limited. the sector will witness burgeoning production that will reach new heights in the coming years. With an outstanding investment of Rs. there has been a euphoric growth in the production of fertilizers in the private sector as well. Some of the companies dedicated to the production of fertilizers include Khaitan Chemicals and Fertilizers Limited. The fertilizer industry in India shows an upward rising trend that would challenge the broader market in future years. The flourishing industry will fill in the gap between demand and supply of fertilizers in India. Zauri Chambal. Jodhpur Along with the public sector units. 2007 quarter. 677 Crore in the September. 20. Most of the companies are expecting an approval for their huge capital expenditure plans from the Department of Fertilizers in India. Nagarjuna Fertilizers. .