Modi 3.0: Tarun Sawhney anticipates key policy changes focused on sugar MSP increase, easing export restrictions and ethanol programme push
Prime Minister Narendra Modi, beginning his third consecutive term, prioritized farmers’ welfare by signing the ‘PM Kisan Nidhi’ scheme as his first official act. The sugar industry, representing stakeholders like sugar mills and 50 million sugarcane farmers, seeks policy reforms. Triveni Engineering & Industries Ltd.’s Vice Chairman emphasized the need for increased Minimum Support Price (MSP) for sugar and relaxation of export curbs. He also highlighted the government’s commitment to the Ethanol Blended Program, urging support for feedstock availability to meet ambitious targets.
Prime Minister Narendra Modi on 9th June assumed office for a third consecutive term with a strong team of a 72-member Union Council of Ministers. The very first file that he signed after assuming office was related to the farmers’ welfare scheme ‘PM Kisan Nidhi’, giving a clear signal that India’s farming community is Modi 3.0’s topmost priority.
The 50 million sugarcane farmers and their families are important stakeholders in this and safeguarding their interests is paramount. Hence the sugar industry has been representing the Government to ensure that the interests of the sugar mills, cane farmers and other stakeholders are protected with conducive policy interventions.
The Vice Chairman & Managing Director of Triveni Engineering & Industries Ltd., Tarun Sawhney said that as the new Government assumes office, the industry eagerly anticipates policy changes. “Key among these is an increase in the Minimum Support Price (MSP) for sugar, aimed at stabilising returns for sugarcane farmers”, he said.
Sawhney highlighted the need to lift curbs on sugar exports. He said that these restrictions, originally implemented to ensure domestic supplies, now need re-evaluation given higher stocks available in the country. “We expect relaxation of restrictions on sugar exports. This will help the industry get a better sale price which in turn will help to pay the sugarcane farmers”, he stated.
Sawhney is confident that the Government remains fully committed to the Ethanol Blended Program (EBP20), with its ambitious target of 20% by 2025-26. He said “To achieve this, we hope the Government will address the current challenges related to feedstock availability. We anticipate positive developments regarding the use of both grain and sugarcane-based feedstocks, enabling companies to plan their investments in distillery expansion effectively and ensure efficient ethanol production for the Ethanol Supply Year 2024-25 and beyond”.
He said that overall, the industry is keen to collaborate with the new Government to achieve these objectives, ensuring a sustainable and prosperous future for the nation.
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