Shishir Bajaj walks out of Isma with Hindusthan

Shishir Bajaj walks out of Isma with Hindusthan

By siliconindia staff writer   |   Wednesday, 24 March 2004, 08:00 Hrs
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NEW DELHI: Shishir Bajaj’s flagship — Bajaj Hindusthan — has walked out from apex industry body — Indian Sugar Mills Association (Isma)— over ideological difference on decontrol of the sugar sector. This is the first major exit from the industry body in several years.

Reacting to the development, Isma director-general S L Jain said though he had yet to officially receive intimation, quitting the body is an ¬ďindividual decision¬Ē that any mill can take. ¬ďEverybody¬ís equal for us. There is no compulsion to remain a member if they find no value in it. And we give no extra weight to any mill because of its name. Bajaj Hindusthan has also been conspicuous by its absence in our meetings in the last several years,¬Ē he said.

Though company officials say the exit was amicable, industry watchers say it is the first clear indication of the growing fissure within the sector on how its future growth. In fact, there is some apprehension that such a move paves the way for further such exits from Isma. The Modi group is the only other major sugar producer that is not an Isma member.

¬ďIt is increasingly being felt by members that the industry body does not accurately represent the interests of its members in states other than Uttar Pradesh.

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