9 hrs ago
Panagariya Says India Can Weather Food and Fertiliser Disruptions
Arvind Panagariya says India is unlikely to run short of food or fertiliser because of conflicts around the world.
He says India is making more fertiliser at home and can buy it from other countries.
India has also managed recent energy problems without a very large shock, he said.
Some businesses that use commercial cooking gas, such as restaurants and hotels, did face temporary pressure.
Panagariya said less food coming from Ukraine could lead other countries to buy more food from India.
If prices rise, Indian exporters could benefit.
He also said India’s economy has been growing strongly and could continue to grow by at least 7 per cent a year.
External Affairs Minister S Jaishankar had warned that global conflicts and other pressures could create a major food crisis.
Arvind Panagariya said India is unlikely to face a major food or fertiliser crisis despite global conflicts.
He said domestic fertiliser production has restarted and India can also buy fertiliser from other countries.
Panagariya said India had absorbed recent energy shocks, though commercial LPG users including restaurants and hotels faced temporary pressure.
He said reduced Ukrainian supplies could increase demand for some Indian food exports and potentially benefit exporters if prices rise.
Panagariya said growth could remain at least 7 per cent for some time, following 7.8 per cent real GDP growth in the April-June quarter of FY27.
- Who
- Arvind Panagariya, chairman of the 16th Finance Commission, commenting on a food-crisis warning by External Affairs Minister S Jaishankar.
- What
- Panagariya said India is unlikely to face a major food or fertiliser crisis and has managed recent energy shocks.
- Where
- At the 5th Kautilya Economic Conclave in New Delhi.
- When
- October 3, 2026; Panagariya spoke on Saturday.
- Why
- He cited improved fertiliser supplies, domestic production, diversified sources of imports, and India's ability to absorb energy shocks.
Food-crisis warning
India's resilience
Risk of a global food crisis
Food-crisis warning
S Jaishankar warned that conflicts, fertiliser shortages, climate pressures, and tighter energy and financial conditions could create a major global food crisis and strain developing economies.
India's resilience
Arvind Panagariya said India is not heading towards a major food crisis, citing its agricultural exports and capacity to absorb shocks.
Food and fertiliser availability
Food-crisis warning
Jaishankar said the Ukraine and West Asia conflicts were affecting grain exports and fertiliser production.
India's resilience
Panagariya said India's fertiliser position had improved through domestic production and purchases from other countries; he added that lower Ukrainian supplies could increase demand for Indian food exports.
Key facts
- Speaker
- Arvind Panagariya, chairman of the 16th Finance Commission
- Event
- 5th Kautilya Economic Conclave
- Location
- New Delhi
- Publication date
- October 3, 2026
- GDP growth
- Real GDP grew 7.8 per cent in the April-June quarter of FY27, according to official data cited in the article.
- Growth outlook
- Panagariya said annual growth could remain at least 7 per cent for some time.
- Fertiliser supply
- Panagariya cited restarted domestic plants and the ability to source fertiliser from other countries.
Quotes
Arvind Panagariya
Chairman of the 16th Finance Commission
“We were able to absorb this shock quite well. Going forward, I believe our ability to absorb such shocks will increase, not decrease.”
thehindubusinessline.com
“If the war leads to lower supplies from Ukraine, demand for our food products could increase.”
thehindubusinessline.com
Sources
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