A news agency Reported that Indian Sugar and General Industry Export–Import Corporation (ISIGIEC), has decided to subsidise exports to make it more competitive in the global market. The agency further reported that trade body would offer a subsidy of Rs.100 a quintal on exports for which it floated a tender on June 30. The subsidy would be borne from corporation’s reserves since the govt. had declined to provide a subsidy from its exchequer, the news agency quoted an ISIGIEC official as saying. The industry body is a joint venture of the Indian Sugar Manufactures Association and the National Federation of Co-operatives Sugar Factories. According to ISICIES, the subsidy would help meet the internal transport and handling costs of sugar consignments, keeping the net export realisation at around Rs.11 a kg. |
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