India Shields Fertilizer Prices and Seeks Global Capital as Growth Outlook Remains Strong

In a speech delivered to Indian expatriates in Chicago, Finance Minister Nirmala Sitraman reaffirmed India's target of a 7 percent or higher economic expansion for FY 2026‑27. She underscored that the country’s growth engine remains robust despite external shocks.

The minister pointed out that the Iran‑U.S. clash and the temporary blockage of the Hormuz Strait initially threatened supplies of crude oil, petroleum products and fertilizers. By swiftly switching to alternative supply routes, India mitigated the disruption.

Crucially, the government has kept fertilizer prices unchanged for farmers, absorbing the impact of soaring international market rates and maintaining subsidy programmes. Existing stockpiles are deemed sufficient to cover the upcoming agricultural cycle.

Sitraman also outlined a proactive strategy to mobilise additional capital. Efforts are under way to finalize bilateral investment treaties and trade accords, and high‑level delegations, including the Prime Minister, are in talks with global sovereign wealth funds and private investors to channel more foreign money into India.