The Indian sugar industry plays a leading role in global sugar market, it being the world's second largest producer after Brazil producing nearly 15 and 25 \% of global sugar and sugarcane, respectively. It is a significant contributor to the socio-economic development of the nation. The sugar industry which encompasses 597 operating sugar mills, 309 distilleries and 213 cogeneration plant and numerous pulp, paper and chemical making units is supported by four leading sugarcane research institutions, 22 state sugarcane research stations, world class sugar machinery manufacturers, suppliers and technical experts. The area under sugarcane hovers around 5 million ha which is nearly 3 \% of the gross cultivable area in the country, the industry produces around 300-350 MT cane, 23-25 MT white sugar and 6-8 MT jaggery and khandsari to meet the domestic requirement of sweeteners. Besides, about 2.9 billion litres of alcohol and 2,330 MW power and many chemicals are also produced. The industry is able to export around 1,300 MW of power to the grid. Indian sugar industry is fully capable of meeting demand of potable alcohol as well as 10 \% blending in gasoline. The industry is gradually transforming into sugar complexes by producing sugar, bio-electricity, bio-ethanol, bio-manure and chemicals; these contribute about 1.1 \% to the national GDP. Currently, the turnover of the sugarcane and sugar related economic activities is in the range of Rs. 80-85 thousand crores per annum, out of which around Rs. 55-60 thousand crores accrues to the sugarcane farmers of the country. Emerging businesses like fuel ethanol, raw sugar and structural changes in global market have provided new horizons for the Indian sugar industry. The sector today has transformational opportunities that would enable it not only to continue to serve the largest domestic markets but has also to emerge as a significant carbon credit and green power producer, with the potential to support an ethanol blending programme of E10 and beyond. The contribution of these activities to the turnover of the industry at the moment is around Rs. 10-12 thousand crores which is likely to increase substantially in imminent future.