Rock Phosphate is a raw material that is required for producing DAP and India imports about 90 percent of it.
The whole thing being prohibitively expensive, the govt is seriously considering to seek a solution to the problem.
It is against this backdrop that the govt set up a working group to go into a detailed analysis of the problem.
The group has suggested a consortium of public -private companies to acquire mineral deposits in Uzbekistan and Jordan.
The group has also argued for creating a Rs. 1,000 crore fund for the purpose.India govt minister of state for chemicals and fertilisers has said all this in a written reply to the Lower House of parliament.
The government is already active preparing a concept paper on setting up a sovereign wealth fund (SEF) to acquire fertilizer and energy assets in several foreign countries.
The 42 member group has also urged the govt of India to create a fund with a corpus of of USD 5 billion.
