India’s growing economy has offered domestic entrepreneurs and international players multiple opportunities to invest. The Government of India has realized the significance of the manufacturing industry to the country’s industrial development and is taking necessary steps to increase investment in this sector.
According to a report by Mckinsey and Company, India’s manufacturing sector could touch US$ 1 trillion by 2025. There is potential for the sector to account for 25-30 per cent of the country’s GDP and create up to 90 million domestic jobs, by 2025.
In an era where there is a need for inclusive growth, the sugar industry is amongst those few industries that have successfully contributed to the rural economy. It has done so by commercially utilizing the rural resources to meet the large domestic demand for sugar and by generating surplus energy to meet the increasing energy needs of India. In addition to this, the industry has become the mainstay of the alcohol industry. The sector supports over 50 million farmers and their families, and delivers value addition at the farm side. In general, sugarcane price accounts for approximately 70 percent of the ex-mill sugar price.
