New Delhi: India is currently facing international pressure to lift the ban imposed on the export of wheat. Union Commerce and Industry Minister Piyush Goyal, during an interview at the World Economic Forum meet held in Davos, has made it clear that India will maintain the ban on exports, amid criticism from the IMF and G7 for the decision to ban wheat exports. Piyush Goyal has said that there is a time of instability in the world and if we remove the export ban, then it will benefit the black market, hoarders and speculators. This will neither be in the interest of the needy countries nor will it favour the poor people.
It is precise that due to the Russo-Ukraine war, the world’s dependence for wheat has increased on India. Due to the volatility in the global markets, wheat prices reaching record levels, keeping inflation under control and wheat production affected in the country amid the heat wave, the government has decided to ensure food security with immediate effect on May 14. Its export was banned. Many foreign organizations have openly opposed this decision of India on the international march. Despite this, India is firm on its decision.