Don't want surplus wheat, sugar to go in hand of hoarders: Goyal at WEF

22 countries have food regulations to protect their own food security, says union commerce minister

Commerce and industry minister Piyush Goyal on Wednesday defended India’s decision to impose curbs on export of wheat and sugar, stating that the government didn’t want any surplus to go into the hands of hoarders who would then charge a huge amount from poorer nations.

The decision on export curbs saw reaction from politicians across the world urging India to reconsider its decision, amid surging food prices across the world due to the Russia-Ukraine conflict.

“Every country has had regulations. There are 22 countries that have regulations on food exports to protect their food security. Different nations at different times have had to take extraordinary measures in public interest,” Goyal said at the World Economic Forum at Davos.

According to Goyal, the decision to impose export curbs was also taken to manage the overall food security of the country. Besides,India has also requested the World Trade Organisation (WTO) to remove the condition that a country cannot use grain stocks procured for food security for supporting vulnerable countries.

In the current situation, India is also not responsible for the petroleum exports to Russia, Goyal said, adding that India has always looked at diversified sources for our petroleum requirements. Further, European nations have continued to buy far far larger quantities than India has ever even thought of buying or will ever buy.

“I must also place on record that I was personally advised that there is no sanction on petroleum goods or food grains procurement from Russia and no sanctions have been placed on that by senior leaders of the coalition which has put in the sanctions.

I think India is well within the current framework which has been designed by the countries who have put in the sanctions,” he added.