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Below the quote on 'Sugar Industry of India: Outlook and Challenges' by Dr. Manoranjan Sharma, Chief Economist, Infomerics Ratings.

The report provides a comprehensive overview of various aspects, including production, pricing, government policies, challenges, and future prospects.

Key insights of the sugar industry of India in 2023:

• India is the world's second largest producer of sugar

• The sugar sector provides direct employment to over 50 million people, including farmers, mill workers, and transporters

• Maharashtra and Uttar Pradesh are highlighted as major contributors to sugar production

• Expectations of El Nino persisting in 2023–24 could drop output to 30 MT in the 2023–24 compared to the domestic demand of 27.5–28 MT

• India is a net sugar exporter, registering USD 5.478 billion in FY 2022-23

• The Indian Government achieved its national average ethanol blend rate target for 2022 at 10.1% in June and additional projects are in place to reach 20% in 2025 under the National Biofuel Policy 2018

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