India bans export of wheat to check rising prices pinching Indian homes
Image Credit: swarjyamag
India on Saturday has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to an official notification. However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in a notification dated May 13.