The government is constantly monitoring the opportunities created by the Russia-Ukraine conflict for India and is in talks with traders to increase wheat and other commodity exports, Commerce Minister Piyush Goyal told the Rajya Sabha on Friday.
In response to questions during Question Hour, he stated that Indian wheat exports are expected to exceed 70 lakh metric tonnes this year, up from just 2 lakh metric tonnes two years ago.
According to Goyal, many ships and containers have been blocked in several European countries as a result of the Russia-Ukraine war, and the crisis has only worsened, particularly since the COVID-19 crisis.
“The government has maintained contact with shipping companies and container operators. The government is keeping a close eye on the situation and will take whatever steps are necessary,” he informed members of the upper house.
He also stated that the government is in communication with exporters, importers, and business owners and that various measures are being implemented to ensure that payments are made on time and that businesses are not harmed.
According to the minister, India has been closely monitoring the opportunities this creates for India and Indian exporters. “We have produced high-quality wheat, and our exports have increased.” From 2 lakh metric tonnes two years ago, our exporters exported ten times more than 21 lakh metric tonnes last year, and we will close the year with more than 70 lakh metric tonnes.
“We are coordinating with various ministries to ensure a smooth transition. We are on track to increase our wheat exports to current importers because Ukraine and Russia were large wheat exporters. The Agriculture Department is in discussions with various countries to speed up and expedite the process so that newer markets for wheat can be sought,” Goyal stated.
In his written response to the impact of the Ukraine crisis on Indian industry and commerce, Goyal stated, “The impact can be assessed only after the situation stabilises.” However, the Department of Commerce consults with all stakeholders on a regular basis to ensure the availability of essential imports and to find alternate destinations.
Sunflower oil imports have been impacted because they primarily came from Ukraine; it accounts for a smaller proportion of our edible oil basket. “As a result, we are also feeling the effects. Fortunately, our farmers are doing an excellent job, and we are expecting a much larger mustard crop this year. This is also an excellent opportunity for us to expand into oilseeds and other crops,” the minister stated.
