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India will continue to allow wheat export to countries in need: Piyush Goyal in Davos Piyush Goyal
Image Credit: Piyush Goyal Twitter

India will continue to allow wheat export to countries in need: Piyush Goyal in Davos

India Blooms News Service | @indiablooms | 25 May 2022, 07:16 pm

New Delhi/IBNS: India will continue to allow wheat export to countries in serious need, are friendly and have a letter of credit, Union Minister Piyush Goyal said while speaking at the World Economic Forum at Davos, Switzerland.

Goyal highlighted that while a 7-8 per cent 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,” Goyal added.

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

Speaking at the World Economic Forum at Davos, Switzerland, Goyal said that last year 7 LMT wheat was exported and the majority was done within the previous two months when the war between Russia-Ukraine developed.

“India's wheat exports are less than 1% of world trade and our export regulation should not affect global markets. We continue to allow exports to vulnerable countries and neighbours,” the Minister said.

 

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