India has permitted the duty-free import of 1 million tonnes of raw sugar to address rising domestic prices. The decision comes as sugar prices in New Delhi hit a record high of ₹55.70 per kilogram. The import is authorized under the Trade Remission Quota (TRQ) system, which allows certain goods to be imported without customs duties.
The move aims to stabilize the market and reduce the financial burden on consumers. Domestic sugar production has struggled to meet demand, leading to shortages and price volatility. The government has emphasized that the import will be temporary and will be reviewed based on market conditions.
The policy follows a series of economic measures to control inflation. Sugar is a staple in Indian households, and its price surge has affected millions of consumers. Analysts suggest the import could help ease supply constraints but may also impact local producers.
The announcement was made amid growing concerns over inflation and the impact of global market fluctuations on essential goods. The government has not yet released details on the timeline for the import or the specific sources of supply.
