India wheat exports are less than 1% of world trade: Piyush Goyal defends wheat exports ban

Finance    25-May-2022
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Davos (Switzerland), May 25: Defending the decision on the wheat export ban, the central government has said that the wheat export ban will not have an impact on global markets as India's contribution is very less among the wheat exporting nations.
India wheat exports are less than 1% of world trade 
Union Commerce and Industry Piyush Goyal, who is at the World Economic Forum Annual Meeting 2022, said that India's wheat exports are less than 1 percent of the world trade and hence the country's curbs should not affect the global markets.
Sharing a video, Goyal tweeted, "India 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 neighbors.
Earlier this month, India banned wheat exports with immediate effect as part of the government’s efforts to control rising domestic prices and as heatwave across the country affects the domestic output. According to government sources, among the wheat exporting countries, India ranked 19th in 2020, 35th in 2019, 36th in 2018, 36th in 2017, and 37th in 2016.