New Delhi, Aug. 20 -- India's domestic urea industry is expected to enter a fresh investment cycle, with fertiliser companies likely to commit Rs 80,000-90,000 crore in capital expenditure over the next six months, according to ICRA.

The investment push follows the government's notification of the New Investment Policy for Urea-2026 (NIPU-2026), which is expected to encourage new capacity and reduce India's dependence on urea imports from 2030-31. Projects approved under the policy are likely to be commissioned in around 3.5-4 years.

Import Dependence to Ease

India imported around 27 per cent of its urea requirement in 2025-26, as domestic production capacity of 30.6 million tonnes per annum (MMTPA) remained below demand of about 39.9 ...