India lifts wheat export curbs, shifts to free trade after four years

India has lifted wheat export curbs, shifting the commodity to a free trade category after four years of restrictions. The government announced this change on Monday, marking a significant shift in the country's wheat trade policy. Prior to the export ban, India was a significant global seller of wheat, with shipments worth around $2.1 billion in FY22 and around $1.5 billion in FY23.

However, exports slumped after the restrictions, falling to $56.74 million in FY24 and to just $2.03 million in FY25. The move comes after a year of strong agricultural output and a favourable wheat production outlook, with the agriculture ministry's third advance estimates pegging 2025-26 wheat production at a record 120.657 million tonnes.

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