BW Businessworld
Sugar Export Subsidy: A Need Of The Indian Farmer
The dues to the sugarcane farmer have accumulated to Rs. 25,000 crores or $3 billion in non-payment for their produce, as per a reply given to a question in Parliament in September of 2020
Photo Credit : Bloomberg
It is well known Indian economy has slowed down especially during the pandemic and its aftermath. The Fast Moving Consumer Goods (FMCG) sector, which is believed to be the evergreen sector in Indian economy, is also reporting a slowdown. One of the primary reasons of the slowdown is the delayed payment of the farmer in the sugarcane industry. As per Department of Food Processing and Industry, Ministry of Consumer Affairs India is the second largest producer of sugar in the world, Brazil being the first. Also, we are the largest sugar consumer in the world, with its industrial annual output at approximately Rs.80,000 crores.