Following the surge in wheat exports from India in the aftermath of Russia's war with Ukraine, there are signs that India may grasp the chance to become the world's top wheat exporter, perhaps displacing Russia and Ukraine.
This chance has also been recognised by Prime Minister Narendra Modi. PM Modi remarked that India could fill the void left by Russia and Ukraine during a post-Budget webinar on financing for India's growth on Tuesday.
"The world's interest in Indian wheat has grown in recent years. Are our financial institutions, export-import bureau, and shipping industry prepared? Are they making serious efforts to capitalise on the huge potential that has presented itself to India? "Prime Minister Modi stated.
Russia and Ukraine jointly account for 25 percent of global wheat exports. Despite being the world's second-largest wheat producer, India only contributes for about 1% of worldwide wheat exports. And now, as a result of the ongoing conflict in Ukraine and the resulting market disruption, India may be able to fill the void.
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