September 2023
- The G20 summit witnessed the launch of the Global Biofuels Alliance, a major initiative to promote sustainable biofuel production and use, announced by Prime Minister Narendra Modi.
- This initiative is a boon for the sugar industry in India, which can produce ethanol from sugarcane juice and molasses, and prevent stubble burning.
- The announcement boosted the sugar stocks, which rose up to 6%, with Renuka Sugars leading the pack.
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