look news india
India is increasingly following its “Neighbourhood First” policy. After supplying essential commodities to Maldives, India is now planning to supply onions to Sri Lanka. Along with this, close ally United Arab Emirates (UAE) has also been allowed to supply 10,000 metric tons of onion. India is taking this step to strengthen its regional relations. In keeping with the Neighbor First policy, restrictions on exports of essential goods were lifted despite tensions with Maldives.
India has banned the export of many goods
Earlier on March 1, India had also approved the supply of 14,400 metric tons of onions to UAE. Let us tell you that the price of onion, sugar, basmati rice etc. should not increase in the country, hence the government has currently banned their export. However, despite this, India is ensuring that its neighbors do not face shortage of these essential commodities. In keeping with the Neighbor First policy, restrictions on exports of essential goods were lifted despite tensions with Maldives.
India is the world's second largest onion exporter
If we talk only about onion, India is the second largest onion exporter in the world. However, India faces a dilemma between meeting its domestic demand and meeting international commitments. Despite the ban on onion exports till March 31, 2024, India has allowed limited exports to several countries, including Bangladesh, Sri Lanka, Mauritius, Bahrain, Bhutan and Nepal. The decision comes amid the government's efforts to maintain domestic supply and curb rising onion prices. Recently, the Reserve Bank has expressed apprehension that the prices of vegetables may increase in the coming time.