The import of urea (of the agricultural grade) on the government account is permitted through Indian Potash Limited (“IPL”) till March 31, 2024, as per the Directorate General of Foreign Trade (DGFT) notification No. 61/2015-2020 dated March 22, 2023.
The Central Government hereby amends, with immediate effect, the policy condition of urea [EXIM code 31021000] of Chapter 31 of ITC (HS), 2022, Schedule -I (Import Policy), as follows:
The item is Urea, whether or not in aqueous solution. The revised policy is that the Import allowed through RCF and NFL subject to Para 2.20 of Foreign Trade Policy, 2015-2020. In addition import of Urea is also allowed through IPL for a period up to March 31, 2024.
Urea serves an essential purpose as a fertiliser, a feed additive, a building block for the production of polymers, and a medicine. It is a crystalline, colourless material that melts at 132.7 °C (271 °F) and breaks down prior to boiling.
According to sources in the trade and industry, the expected amount of urea imported in FY24 may be 4-5 million tonnes, which is less than the estimated amount of more than 7.5 million tonnes imported in FY23.
Import of Urea (for agriculture purpose) on Government Account shall be allowed either by designated STEs itself, or through any entity/entities (Fertilizer Marketing Entities) so authorized by the Department of Fertilizer from time to time, for filing BEs at Indian ports.
However, import of Technical Grade Urea (TGU) meant for non-agricultural purpose/ industrial use/ NPK Manufacturing shall be “Free”.
Previously, it was amended to extend the date up to March 31, 2023. And the new notification also extended the date till March 31, 2024. The effect of the notification is till the date.
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