Besides, Oil India continues to be one of the largest contributors to the government, which holds a 56.66% stake in the firm, in the form of duties, taxes, and dividend. During FY24, it paid `11,418 crore to the exchequer, against ?12,330 crore in FY23.
Which oil is best for cooking in South India?
Meanwhile, coconut oil is the go-to cooking oil for South Indians. An array of edible oils are produced in the country: palm oil, soybean oil, mustard oil, sunflower oil, and groundnut oil being some of the major ones. However, this does not match consumption demand, making India the leading importer of edible oils in the world.
Will India double edible oil production in 7 years?
Edible Oil (Photo: Wikipedia) India on Thursday approved a Rs 10,100 crore ($1.2 billion) programme to double edible oil production in the country within seven years, aiming to reduce dependence on costlier imports, the government said in a statement.
Why is cooking oil important in India?
From deep-fried samosas to tempering curry with whole spices, oil is arguably a necessity for Indian cuisines. The country has a diverse culinary tradition and cooking oil preferences vary among the different regions, based on the food being prepared.