India will continue to allow wheat export to vulnerable and neighboring 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 in New Delhi on Wednesday, the minister said India will continue to allow wheat export to countries that are in serious need, friendly, and have a letter of credit.
Goyal highlighted that while a 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 two months when the war between Russia-Ukraine developed", he added.
Source: BSS