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Govt to examine sugar mills' demand for higher import tax

Reuters
India will examine the demand made by local mills for raising the import tax on sugar, the food minister said on Thursday, to help curb imports and reduce domestic stocks. India, the world's second biggest producer after Brazil, imposes a 15 per cent tax on sugar imports. "We will examine the industry's demand for raising import tax on sugar," K V Thomas said. In India, sugar production has surged, with 2013-14 expected to be a fourth straight year of surplus output. India's stockpiles are a little more than eight million tonnes.

 

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First Published: Oct 24 2013 | 10:31 PM IST

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