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VERIFIEDET Finance·negative

India can't afford rising import dependence on edible oil: Industry body SEA on PM appeal

AI Summary
  • ·The Solvent Extractors’ Association of India (SEA) supports the Prime Minister's appeal to reduce edible oil consumption.
  • ·India imports approximately 60% of its edible oil requirements, spending around Rs 1.61 lakh crore in 2024-25.
  • ·SEA warns that geopolitical and climate risks could increase import costs and inflation.
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