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CONTRIBUTION OF COOPERATIVE SUGAR FACTORIES OF GUJARAT STATE IN INDIAN INDUSTRY

India is the largest sugar consumer and second largest producer of sugar in the world according to the USDA Foreign Agricultural Service. Indian Sugar Industry has total turnover of Rs. 500 billion per annum and contributes almost Rs. 22.5 billion to central and state exchequer as tax, cess, and excise duty every year according to the sources of Ministry of Food & Government of India. Indian sugar industry has always been a focal point for socio-economic development in the rural areas. Today nearly 50 million sugarcane farmers and a large number of agricultural laborers are involved in sugarcane cultivation and ancillary activities contributing to 7.5% of the rural population. In an era where there is a need for inclusive growth, the sugar industries have successfully contributed to the rural economy. The cooperative sugar factories in Gujarat state are playing an important role of catalyst in the process of socio-economic development of the rural areas and have provided the opportunity to even the smallest cane growers to derive the benefit of the large scale industry. They also assist in obtaining financial assistance from State Government, Central Government, or various National and International Financial Institutions. Objective of the study: 1. To examine the socio economical development of rural areas, 2. To measure effect of working capital turn over ratio on Indian economy. The Sugar Co-operative and their leaders in Gujarat are endowed with Co-operative Spirit, business acumen and rich experience in running Sugar Industry. In changed economic environment they also help for encouraging Government Policy by proper planning, management and cost disciplines. Gujarat Sugar Co-operative Sector can move from Sugar Industry into Sugar Cane Complex and provide direction to others. They also play a vital role in extracting productivity generating capacity, optimum utilization of resources and even minimizing industrial disputes. The sugar industries take steps for effective organization of labor, adopting methods for increasing labor productivity and promoting industrial harmony in India at present day of the world.