wheat export banned: India bans wheat exports with fast impact, here is why – The Financial Instances Video

India has banned wheat exports with fast impact as a part of measures to manage rising home costs, in accordance with official notification. Nonetheless, the export shipments for which irrevocable letters of credit score (LoC) have been issued on or earlier than the date of this notification shall be allowed, the Directorate Basic of Overseas Commerce (DGFT) stated in a notification dated Could 13. It additionally clarified that wheat exports shall be allowed on the idea of permission granted by the Authorities of India to different international locations to satisfy their meals safety wants and primarily based on the request of their governments.