The Government of India has issued an industrial license to IGBMVSSK, under the Industries (Development & Regulation) Act, 1951 for establishment of a sugar manufacturing unit of 2500 TCD capacity via a Letter of Intent LI-57 (1997), dated 19-Mar-97.

The chief promoter is Mrs. Vijayamala Desai, who is an eminent educationist and social activist. She has over 25 years of experience in the field of education, social welfare and socio-economic development programs for women. Mrs. Desai has been instrumental in initiating many educational programs for women in the socially and economically backward areas of Maharashtra. The proposed sugar factory is the result of her unstinting efforts for social and economic betterment of womenfolk.

The other promoters include eminent social workers from Kolhapur District, educationists, entrepreneurs and agriculturists, who are committed to improve the social status of women through economic means.

The sugar factory, which manufactures white crystal sugar, is set up in the backward area of Bhudargad Taluka. The location is chosen because of its rich potential for sugarcane cultivation as also to provide remunerative prices to the farmers in Bhudargad Taluka who at present have to transport cane over long distances and are not paid a fair compensation for their crop. One of the purposes of setting up the sugar factory in Bhudargad Taluka is to promote economic development of the region, which is at present a backward area and falls in the D+ zone, meaning economically, socially and culturally backward.

The sugar factory is unique in many ways and has several firsts to its credit as described in the following sections.

The project has received overwhelming support from the Government of Maharashtra and overseas organisations. The project will also benefit from the incentives given by the Government of India to attract investments in this sector.

IGBMVSSK is the first sugar factory that comes in existence as a direct result of the "Policy on Women" declared by the Government of Maharashtra in 1994. This sugar factory holds a new chapter in the history of entrepreneurship by encouraging more women to become khatedars (land owners) and commercially exploit the land.

As the population of India is increasing, the demand for sugar is also on the rise. There would also be export potential for sugar, as the world sugar has been estimated at around 123 million tons when sugar consumption growth rate is estimated at 2.4%. Though India's share in global sugar market continues to be negligible despite the fact that India is among the largest sugar producing countries in the world, it has enormous scope for increasing internal consumption and exploring the global market. This reiterates the tremendous scope for sugarcane cultivation in the country, as sugar is currently being produced from sugarcane alone. Thus. sugarcane has proved to be the ideal raw material for sugar production.