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India currently has no immediate plans to lift the ban on private overseas sales of wheat, according to Commerce Minister Piyush Goyal. The decision was made on May 14 due to a decrease in wheat production caused by a heat wave, leading to record high domestic prices and a surge in global wheat prices.

Goyal emphasized that lifting the ban would only benefit black marketeers, hoarders, and speculators, rather than helping vulnerable and needy countries. He suggested that the government should continue with direct deals with other governments to provide affordable wheat to the most vulnerable populations.

Despite calls from wheat importing countries, including G7 nations, to reconsider the ban, Goyal stated that India’s priority is to support the poor through government-to-government deals. He also mentioned that he has been in communication with the World Trade Organisation (WTO) and the International Monetary Fund (IMF) to explain the reasoning behind India’s decision to ban wheat exports.

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