India has managed to create ripples in the global commodities market with countries like the US and China set to follow its benchmark price for potash, a fertiliser widely used in the country. Breaking a well-entrenched global cartel, government-owned Indian Potash Ltd has managed to negotiate a potash deal with Russian company Silvinit at $460 a tonne
'Both initiatives are welcome moves and we would commit ourselves with focused attention aligned with the national priorities, and pursue our exploration initiatives.'
Agrasain Gehlot has been asked to depose before the investigating officer on Wednesday in Delhi under the Prevention of Money Laundering Act, they said.
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
Countrywide raids are being conducted in connection with a money laundering case linked to a fertiliser scam.
Faced with one setback after another in expanding the scope of mining in the country, almost all the major miners of the world have wound down their operations in India.
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