Even as the government justifies its position on why it is restricting wheat and sugar exports, global experts fear the restrictions could fuel inflation in countries dependent on India.
Speaking to CNBC-TV18’s Shereen Bhan in Davos, Rajiv Shah, chairman of the Rockefeller Foundation, said India’s move would worsen the global food crisis.
He said: “Over the medium to long term, which I define as only the next few years – not decades, just the next few years – we need to significantly reinvest in domestic agricultural production and resilient supply chains to many savings. .”
He is of the view that India’s ban on wheat exports will aggravate this situation this year. “We need fewer countries to ban exports. We also need real investment in regenerative agriculture – agriculture less dependent on international inputs and a sector so vital to nearly every economy on the planet, but one that has been systematically underinvested over the past decade.
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First post: STI