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India allows wheat export to neighbouring countries

India will continue to allow wheat export to vulnerable and neighbouring states and the countries, which are in serious need, said Indian Commerce Minister Piyush Goyal.

Speaking at the World Economic Forum at Davos in Switzerland, he said, “India wheat exports are less than 1 percent of world trade and our export regulation should not affect global markets”.

According to an Indian Commerce ministry statement issued here today, the minister said India will continue to allow wheat export for countries which are in serious need, friendly and have the letter of credit, reports BSS.

Goyal highlighted that while 7%-8% rise in wheat production was expected this year, severe heat waves led to early harvest and loss of production.

“Given this situation, what we are producing is about enough for domestic consumption,” he added.

The minister said India was never a traditional player in the international wheat market and export of wheat only began about two years ago.

“Last year 7LMT wheat was exported and majority was done within the last twomonths when the war between Russia-Ukraine developed”, he added.