The Government of India, through the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce & Industry, has issued Notification No. 65/2024-25, extending the State Trading Enterprise (STE) status of Indian Potash Limited (IPL) for the import of Urea (Exim Code 31021010) on Government account until March 31, 2026.
The STE status of Indian Potash Limited (IPL) is extended from March 31, 2025, to March 31, 2026.
The import of agricultural-grade urea will continue through IPL, subject to Para 2.21 of Foreign Trade Policy (FTP) 2023.
This amendment applies to ITC (HS) Code 31021010, Chapter 31 of ITC (HS) 2022, Schedule – I (Import Policy).
Other terms and conditions remain unchanged as per Notification No. 79/2023 dated March 18, 2024.
Impact on Agriculture and Fertilizer Industry
The decision is expected to ensure a steady supply of urea for the agricultural sector, reducing dependency on private importers and stabilizing fertilizer availability for farmers. The move aligns with the government’s continued efforts to regulate and streamline fertilizer imports for sustainable agricultural growth.
Government’s Rationale:
This extension is part of the Foreign Trade Policy (FTP) 2023, aiming to regulate essential agricultural imports efficiently. By allowing IPL to continue as the exclusive importer, the government seeks to maintain price stability, ensure adequate availability, and prevent market fluctuations in fertilizer supplies.
Official Statement:
The notification, issued with the approval of the Minister of Commerce & Industry, was signed by Santosh Kumar Sarangi, Director General of Foreign Trade & Ex-Officio Additional Secretary to the Government of India.
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