Study on green innovation opportunities for future growth in sugar industry in India
STUDY ON GREEN INNOVATION OPPORTUNITIES FOR FUTURE GROWTH IN SUGAR INDUSTRY IN INDIA
Dr. Kunal S. Badade, Head Department of Commerce, PG Centre, Dayanand College of Commerce, Latur and Dean, Commerce Faculty, S.R.T.M. University, Nanded.
Prof. Shrikant N. Dhage, In-charge Principal, MIT College of Commerce and Management Studies, Latur-413531, India.
ABSTRACT
This paper discusses about the current scenario in the Indian sugar industry, drivers that move forward this sugar industry to realize the importance of innovations, process of sugar and its byproducts production which helps to understand future growth of the Indian sugar sector and the green opportunities that help this sector to make their entrepreneurship successful. This paper may certainly provide guidelines to the Management, Government, share holders, creditors and employees to take decisions related to their own sphere of interest.
INTRODUCTION
Sugar is a sector of significant importance to the national economy. While consumption has been growing historically, the production has been cyclical. At present, the sugar industry is regulated across the value chain. Investments in by-products are at a nascent stage, and the sector has struggled to generate a return on invested capital in excess of its cost of capital in most years, primarily due to a high mandated fixed cane price and a volatile sugar price. Sugarcane is primarily grown in nine states of India: Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Maharashtra, Punjab, Uttar Pradesh and Tamil Nadu. More than 50 million farmers and their families are dependent on sugarcane for their livelihood. The sugar industry caters to an estimated 12 percent of rural population in these nine states through direct and indirect employment. Effectively, each farmer contributes to the production of 2.9 MT of sugar every year.
In addition to farmers, an estimated 0.5 million workers are directly employed as agricultural labour involved in
Dr. Kunal S. Badade, Head Department of Commerce, PG Centre, Dayanand College of Commerce, Latur and Dean, Commerce Faculty, S.R.T.M. University, Nanded.
Prof. Shrikant N. Dhage, In-charge Principal, MIT College of Commerce and Management Studies, Latur-413531, India.
ABSTRACT
This paper discusses about the current scenario in the Indian sugar industry, drivers that move forward this sugar industry to realize the importance of innovations, process of sugar and its byproducts production which helps to understand future growth of the Indian sugar sector and the green opportunities that help this sector to make their entrepreneurship successful. This paper may certainly provide guidelines to the Management, Government, share holders, creditors and employees to take decisions related to their own sphere of interest.
INTRODUCTION
Sugar is a sector of significant importance to the national economy. While consumption has been growing historically, the production has been cyclical. At present, the sugar industry is regulated across the value chain. Investments in by-products are at a nascent stage, and the sector has struggled to generate a return on invested capital in excess of its cost of capital in most years, primarily due to a high mandated fixed cane price and a volatile sugar price. Sugarcane is primarily grown in nine states of India: Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Maharashtra, Punjab, Uttar Pradesh and Tamil Nadu. More than 50 million farmers and their families are dependent on sugarcane for their livelihood. The sugar industry caters to an estimated 12 percent of rural population in these nine states through direct and indirect employment. Effectively, each farmer contributes to the production of 2.9 MT of sugar every year.
In addition to farmers, an estimated 0.5 million workers are directly employed as agricultural labour involved in