Sugar industry hails duty hike

The announcement made by Food and Civil Supplies Minister Ram Vilas Paswan about hiking the sugar import duty from 15 to 40 per cent and a provision of additional interest-free loan to the industry to enable the mills to make payments to cane farmers is seen as a positive step and a move to help the ailing sugar industry, which, industry insiders say “is in a state of peril”. Hailing the decision, the former President of Indian Sugar Mills Association and Vice-Chairman, Sakthi Sugars M Manickam said that this would help the industry, which has been gasping for breath. He said the move would help the industry get rid of excess sugar in the market and help the domestic sugar industry.