Kathmandu: In a pivotal decision, the Indian government, led by a committee chaired by Home Minister Amit Shah, has officially lifted the ban on onion exports. The ban, which was implemented in December 2023 to address soaring onion prices domestically, had a significant impact on the market, resulting in a subsequent decline in onion prices within India.
The committee, formed under the guidance of Minister Shah, has now given the green light for the export of 300,000 metric tons of onions. In a move to diversify the onion supply chain, the Indian government has also granted permission to import 50,000 tons of onions from Bangladesh.
This decision not only aims to stabilize the onion market within India but also opens up new trade opportunities for neighboring countries. With the export ban lifted, the pathway for importing onions into Nepal has been reestablished, providing relief and potential economic benefits.
The move is anticipated to have positive repercussions on regional trade dynamics and contribute to the stability of onion prices in the broader South Asian market. The international community is keenly watching as India takes steps to navigate and balance its domestic and international trade interests.