India becomes Chair of International Sugar Organization (ISO) for 2024

• India has assumed the role of Chair for the International Sugar Organization (ISO) in the year 2024, as announced during the 63rd council meeting held at the organization's headquarters in London. This noteworthy appointment underscores India's ascendancy in the global sugar sector, reflecting the nation's growing prominence in this field.

• The Indian government has expressed its vision for the chairmanship, emphasizing a collaborative approach with all member countries. During its leadership in 2024, India aims to garner support and cooperation to encourage the adoption of sustainable practices in sugarcane cultivation, sugar and ethanol production, and the efficient utilization of by-products.

• As the world's largest consumer and second-largest producer of sugar, India wields considerable influence, accounting for approximately 15% of global sugar consumption and contributing around 20% to global sugar production. Given its pivotal position, India stands out as the ideal nation to lead the ISO, which boasts a membership of about 90 countries and serves as the apex international body for sugar and related products.

• In the Eastern Hemisphere, India holds the market leadership for sugar, complementing Brazil's position in the Western Hemisphere. Notably, India has ascended to the rank of the third-largest global ethanol producer, trailing only the United States and Brazil. This accomplishment underscores India's commitment to green energy and its innovative approach to addressing challenges such as surplus sugar in the domestic market. Furthermore, it positions ethanol production as a strategic tool for reducing fossil fuel imports and aligning with COP 26 targets for India.

• An impressive milestone is the notable increase in ethanol blending percentage in India, rising from 5% in 2019-20 to 12% in 2022-23. Simultaneously, ethanol production has surged from 173 crore litres to over 500 crore litres during the same period, signaling India's dedication to sustainable energy practices and its ability to navigate the complexities of the global sugar market.

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Published date : 25 Nov 2023 05:04PM