Being the second largest producer of sugar in world, India provides best investment destination in areas of engineering, technology and farming sector, according to experts.
The country provides best investment destination in areas of engineering, technology and farming, feel industry experts attending the '6th Sugar Asia 2014' opened here today.
"In a positive move, the Central government has allowed mills to sell their complete sugar produce in open market without any restraint. This step has been awaited from past many decades. This has opened the paths for mergers, acquisitions and new mills erection," a statement issued by the organisers said.
The two-day event showcases various equipment and technology, used in production of sugar, and in allied industries like ethanol, distilleries, bio-energy and cane farming, on display.
Delegates from more than 20 countries, including US, the Netherlands, Czech Republic, Turkey, Iraq, Sri Lanka, Indonesia, and Germany, are participating in the event.
The exhibition displays latest technology being used for sugar production and allied industries like gear boxes, packaging solutions, cube-making machines, etc.
Asean countries, with collective population of almost 600 million, produce over 17 million tonnes of sugar, experts said, adding that the annual consumption of sugar by these countries is 15 million tonnes, the per capita figure comes at around 23 kg.
With the Asean free trade zone is set to get operational in 2015 the industry provides good investment opportunities, experts said.
The global sugar market is set to be in surplus for third time on trot. While production of sugar has grown for all major exporters like Thailand, Brazil, Mexico, etc, the International Sugar Organisation (ISO) forecasts 2013 global sugar supplies to surpass demand by nearly 6 MT.
