The Central Government on Thursday allowed duty-free ‌imports of 1 million metric tonnes of raw sugar as it seeks to bring down record-high domestic prices in the country.An official statement said imports will be allowed until October 31, ahead of the festival season when sugar consumption peaks because ​of increased demand for traditional sweets.India, the world’s largest sugar consumer, is importing sugar for the first time in nearly a decade to bridge the supply gap before demand accelerates during the festival season.Sugar prices in in the country have risen by nearly 40 per cent in the past two months as lower production has tightened supplies, prompting the government to allow imports.India currently imposes a 100 per cent duty on sugar imports.Alongside the import decision, the government has imposed tighter restrictions on sugar inventories held by large consumers.From September 1 to November 30, bulk consumers using more than 10 metric tonnes of sugar a month will not be allowed to hold inventories for more than 15 days, according to a government order issued on Wednesday.The move follows a decision last month requiring sugar dealers to limit their inventories to 30 days’ supply.The latest restrictions are aimed at preventing excessive stockpiling and ensuring that available sugar reaches the market during the period of heightened demand.