India – one of the world’s leading wheat producers – has placed an immediate ban on wheat exports.
As reported in this analysis by SOUTH ASIAN TIMES, the ban serves three main purposes: It maintains the food security for the country, it helps others who are in distress, and maintains India’s reliability as a supplier.
Around a dozen global consumer-facing companies reported robust growth in India in the January to March quarter, surpassing even pre-Covid levels with a high double-digit rate for several.
India is among the top-performing areas for several of these firms, including Unilever, Visa, Whirlpool, and Pernod.
Companies sold inventory amid increased Covid-19 instances and municipal restrictions, resulting in large discounts on some discretionary products such as apparel and shoes across platforms throughout the country. Several CEOs have also stated that they are increasing their investment in India.
Sales of everyday household products and basics grew mostly owing to price increases, as corporations raised prices to offset rising raw material, energy, packaging, and transportation costs.