India’s complex fertiliser capacity set to rise 4 MTPA through FY29

India's complex fertiliser sector is set to add 4 MTPA capacity by fiscal 2029, boosting utilisation to 95% and curbing import dependency. Manufacturers will invest Rs 12,000-13,000 crore, largely funded by accruals, ensuring comfortable credit profiles. Improved backward integration to 60% will stabilize profitability.