Business | Economy
India could soon lift ban on wheat exports
The ban on wheat exports by India could be lifted once the country's buffer stocks are adequate, Indian Ambassador to Oman, Anil Wadhwa, said on Saturday.
- By Sunil K. Vaidya, Bureau Chief
- Published: 00:45 February 10, 2008
Muscat : The ban on wheat exports by India could be lifted once the country's buffer stocks are adequate, Indian Ambassador to Oman, Anil Wadhwa, said on Saturday.
Replying to a question during a press conference to announce India Show, the envoy said: "The ban is temporary and once the buffer stock is available the export would resume."
India banned export of wheat from February 2007 to curb rising cost of wheat products in India.
Wadhwa said the recent high exchange rate of the rupee against dollar had no adverse impact on the volume of commodities export to Oman and the Gulf. "Trade between India and Oman grew much more in 2007 compared to 2006 and it crossed $1 billion mark."
He agreed that although the trade was high, the higher exchange rate of rupee in recent time may have hurt exporters.
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