Phosphorus (P) is a major agricultural nutrient and, in its mineable form, a potentially scarce resource. Countries with limited physical access to P should hence develop an effective national P governance. This requires analyses of trends and variations in P flows and stocks over time. Here, we present a long‐term P flow analysis for the Indian agri‐food sector from 1988 to 2011. Major P flows are imports of mineral P, fertilizer application, and uptake of animal fodder.