Performance of Agro based Industries in India with Special Reference to Sugar Industry - An Assessement

Abstract

The Indian sugar industry is a key driver of rural development, supporting India’s economic growth. The industry is inherently inclusive, supporting over 50 million farmers and their families, along with workers and entrepreneurs of almost 550 sugar mills, apart from a host of wholesalers and distributors spread across the country. The Indian sugar industry is cyclical as, on the one hand it serves the domestic market, the largest in the world. Sugar is a sector of significant importance to the national economy. It has done so by commercially utilizing the rural resources to meet the great 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 sugar sector also has a significant standing in the global sugar space. The Indian domestic sugar market is one of the largest markets in the world in terms of volume. India is also the Second largest sugar-producing nation and remains a key growth driver for world Sugar growing above the Asian and world consumption growth average.