In a complete turnaround, industry has favoured the import of around 500,000 tonne raw sugar for re-export after refining, to ensure its presence in the world market despite the bearish price scenario.

With India's sugar exports likely to fall to a mere 300,000 tonne from 17 lakh tonne last year, on account of a fall in production and low international prices, industry wants to export refined sugar made from imported raw sugar.

"The objective of exports to reduce surplus is no longer there and raw sugar imports for re-export would enable exports without depletion of domestic stocks," Shanti Lal Jain, director general, Indian Sugar Mills Association, told PTI in New Delhi.

He said at present the industry was looking at a raw sugar import of around 500,000 tonne for exports of similar quantity of refined sugar during the current season.