India is set to take the reins of the International Sugar Organisation (ISO) for the year 2024, marking a significant achievement for the country, which is both the largest consumer and the second-largest producer of sugar worldwide. The announcement was made during the 63rd council meeting of the ISO in London, underscoring India's growing influence in the global sugar sector.

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Sanjeev Chopra, Secretary (Food) of the Government of India, emphasized the nation's dedication to championing sustainable practices in sugarcane cultivation, sugar and ethanol production, and optimizing the use of by-products. India, with a substantial 15% share in global sugar consumption and a significant 20% contribution to global sugar production, holds undeniable sway in shaping international sugar trends.

As the largest consumer and the second-largest producer globally, India is well-suited to lead the ISO, an apex international body for sugar-related products with a membership of approximately 90 countries. While Brazil dominates the Western Hemisphere, India's market leadership in the Eastern Hemisphere positions it as a key player in shaping the global sugar market.

India's ascent to the third-largest country in the world in ethanol production reflects its commitment to green energy and addressing challenges associated with surplus sugar in the domestic market. The country has significantly increased ethanol blending, reaching 12% in the financial year 2022-23, up from 5% in 2019-20, aligning with efforts to reduce dependence on fossil fuel imports and meet COP 26 targets.

The Indian sugar industry's resilience and adaptability were evident during the COVID-19 pandemic, as mills operated during lockdowns and contributed to the production of hand sanitizers. India has become the payer of the highest cane price to its farmers while maintaining efficiency, profitability, and self-sufficiency without relying on government financial assistance.

The synergy between the sugar industry and the government has resulted in historic lows in cane dues pendency, with over 98% of cane dues for the 2022-23 season cleared and more than 99.9% of cane dues from previous seasons settled. India's commitment to prioritizing farmers' well-being is reflected in its consumer-centric approach, keeping domestic sugar retail prices stable despite a global surge of about 40% in one year.

On the technical front, the National Sugar Institute in Kanpur has extended collaborations with several countries, including Indonesia, Nigeria, Egypt, and Fiji, to share the latest technologies and best practices in the sugar sector, showcasing India's dedication to fostering international cooperation.

As India assumes the Chair of the International Sugar Organisation for 2024, the nation is poised to lead the global sugar industry toward sustainable practices, collaborative innovation, and responsible growth, further solidifying its standing as a key player in the international arena.

With inputs from ANI