Even if some subsidies have been challenged, there is no impact on the Indian sugar industry, said Abinash Verma, director general of Indian Sugar Mills Association (ISMA), on Wednesday.
The World Trade Organisation (WTO) panel has ruled in favour of Brazil, Australia and Guatemala on Tuesday, December 14, in their trade dispute with India over sugar subsidies.
India is the world’s top sugar producer after Brazil.
“Even if some subsidies have been challenged, which were 4-5 years earlier or prior to the current subsidies being given, I do not think there is any impact on the Indian sugar industry on sugar exports. In the current year, the government is not giving us any export subsidy,” Verma said in an interview to CNBC-TV18.
He further said that whatever subsidies were given in the last 2-3 years are as per legal experts and 100 percent WTO compatible.
For the entire interview, watch the video
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