India's Bold Move Towards Oilseed Independence

The Indian government approved the National Mission on Edible Oils-Oilseeds, allocating Rs 10,103 crore to achieve self-sufficiency in cooking oils. The mission aims to increase oilseed production from 39 million tonnes to 69.7 million tonnes by 2030-31, reducing dependency on oil imports from countries like Indonesia, Malaysia, and Brazil.

In a significant stride towards reducing dependency on imports, the Indian government has sanctioned the National Mission on Edible Oils-Oilseeds with a financial plan of Rs 10,103 crore. The mission aims to make India self-reliant in cooking oils, as the country currently imports more than half of its annual requirement.

According to an announcement made on the social media platform X, the mission targets self-reliance in oilseed production over the next seven years, boosting production from 39 million tonnes in 2022-23 to 69.7 million tonnes by 2030-31. An additional 40 lakh hectares of land is expected to be brought under oilseed cultivation.

India heavily relies on imports of palm oil from Indonesia and Malaysia, soyabean oil from Brazil and Argentina, and sunflower oil from Russia and Ukraine. This strategic initiative is set to transform the country's domestic production capabilities, significantly curtailing its reliance on foreign oilseeds.

(With inputs from agencies.)