PM Narendra Modi announced a National Edible Oil Mission-Oil Palm (NMEO-OP) to make India self-sufficient in cooking oils, including palm oil, as he stressed on reducing the dependence on imports on Monday.

While addressing a virtual event on the PM-Kisan scheme, he said over ₹ 11,000 crore will be invested in the edible oil ecosystem.

The Prime Minister also transferred over ₹ 19,500 crore to over 9.75 crore farmers under the government’s flagship PM-Kisan scheme.

PM Modi said while India has become self-sufficient or Atma Nirbhar in production of rice, wheat and sugar, it was not enough as the country is dependent on huge imports of edible oils.

PM Modi emphasized that India must become self-reliant in edible oil too as he announced NMEO-OP.

The Prime Minister further ensured that the government will provide all facilities, from quality seeds to technology to promote farming to produce palm oil and other oil seeds to the farmers.

It is to be mentioned here that India spends thousands of crores in importing edible oil to meet the domestic demand. Of the total imports, palm oil constitutes about 55 per cent.

PM Modi added that this money should rather go to farmers.