In early May PM Modi made a lofty statement in Denmark that India was ready to save the world from hunger by supplying food grains but within 10 days of the announcement we banned the export of wheat.
The ban was so sudden that close to 5,00,000 kgs of wheat lying at various ports waiting to be loaded on ships had now to be sold in domestic markets.
The ban led to a massive price distortion and the local rates crashed.
The G-7 countries made their displeasure known to us for the unhealthy volatility as a result of an unthought through embargo. To salvage the situation the mandarins in the commerce ministry issued another notification to enable atleast the wheat lying at the ports to be exported.
This torturous flip flop dented India's image as a reliable partner and further lent credence to the fact that all our trade policies are ad hoc and mere knee-jerk reactions to set right the unfolding economic crisis in the country.
Another example of New India on its path to becoming a Vishwaguru and leading the world. Lead kindly light.
