The Director General of Foreign Trade vide trade notice dated 30th May, 2022 for implementation of prohibition on export of wheat. The DGFT previously revised the export policy of all types of wheat from free to prohibited to manage the overall food security of India. It was clarified that export will be allowed in cases where irrevocable Letter of Credit has been issued on before date of this notification.
DGFT has hereby directed authorities to conduct physical verification of Letter to credit with help of a professional agency and to ensure the validation by recipient banks.
