{"id":253863,"date":"2023-07-28T20:16:43","date_gmt":"2023-07-28T14:46:43","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=253863"},"modified":"2023-08-31T10:22:53","modified_gmt":"2023-08-31T04:52:53","slug":"indias-rice-export-curbs-could-prove-too-myopic-for-its-good","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/indias-rice-export-curbs-could-prove-too-myopic-for-its-good\/","title":{"rendered":"India\u2019s rice export curbs could prove too myopic for its good"},"content":{"rendered":"\n<p><strong>Source<\/strong>&#8211; The post is based on the article <strong>\u201c<\/strong>India\u2019s rice export curbs could prove too myopic for its good<strong>\u201d <\/strong>published in the <strong>\u201cmint\u201d <\/strong>on <strong>28th July 2023<\/strong>.<\/p>\n<p><strong>Syllabus: <\/strong>GS3- Indian economy<\/p>\n<p><strong>Relevance:<\/strong> Issues related to external trade<\/p>\n<p><strong>News-<\/strong> Russia\u2019s decision to pull out of the Black Sea grain deal, but also India\u2019s announcement that it would ban the export of many varieties of rice.<\/p>\n<h2><strong>Why is the export ban not a good policy decision?<\/strong><\/h2>\n<p>It significantly undermines the claims that India is the<strong> natural and responsible leader of the developing world.<\/strong> Notably, India&#8217;s share of worldwide rice shipments stands over 40% in 2022-23.<\/p>\n<p>It could lead to <strong>growing resentment<\/strong> over time. If global rice prices surge to a 10-year high and the developing world attributes shortages mainly to the I<strong>ndian export ban<\/strong>, anger may escalate quickly.<\/p>\n<p>The central argument for <strong>India&#8217;s leadership to the Global South<\/strong> has always been its perception that it considers other developing countries as equals. This <strong>distinguishes it from the West or China. <\/strong><\/p>\n<p>However, Indian policymakers should refrain from<strong> arbitrary decisions<\/strong> like export bans that make other nations <strong>feel dependent and subservient<\/strong>. <strong>True global leadership<\/strong> is taking responsibility for the <strong>world as a whole.<\/strong><\/p>\n<h2><strong>What are India\u2019s justifications for its decision?<\/strong><\/h2>\n<p>There is <strong>rising food prices <\/strong>at home. <strong>Domestic prices for rice<\/strong> have risen over 10% in the past year.<\/p>\n<p>Export bans may seem like the <strong>best solution for domestic consumers<\/strong>. The government holds <strong>significant stocks of rice <\/strong>that could be distributed to poorer Indians or released into the open market to stabilise prices.<\/p>\n<p>For the bureaucracy, export bans appear to be the <strong>immediate response<\/strong> to soaring domestic prices. Last year, following the upheaval in wheat markets due to the <strong>Russian invasion of Ukraine<\/strong>, India also imposed a <strong>shutdown on wheat exports.<\/strong><\/p>\n<p>These restrictive trade policies are aimed at <strong>protecting millions of subsistence farmers<\/strong>. But <strong>farmers&#8217; welfare <\/strong>seems to be the least priority for policy makers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source&#8211; The post is based on the article \u201cIndia\u2019s rice export curbs could prove too myopic for its good\u201d published in the \u201cmint\u201d on 28th July 2023. Syllabus: GS3- Indian economy Relevance: Issues related to external trade News- Russia\u2019s decision to pull out of the Black Sea grain deal, but also India\u2019s announcement that it&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/indias-rice-export-curbs-could-prove-too-myopic-for-its-good\/\">Continue reading <span class=\"screen-reader-text\">India\u2019s rice export curbs could prove too myopic for its good<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[218,216,11125],"class_list":["post-253863","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-agriculture","tag-gs-paper-3","tag-mint","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/253863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=253863"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/253863\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=253863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=253863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=253863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}