In a saute pan over medium heat, melt the sugar and water and caramelize until it's golden brown.
Add the shallots, ginger, and garlic.
Mix well and cook for 2 minutes, then de-glaze with vinegar
Add the chili and tomatoes
Season with salt and pepper
Bring to a boil
Stir in the tomato juice
Reduce the heat and simmer for 10 minutes until the sauce is thickened
Adjust the seasoning with salt and pepper
Allow sauce to cool, then add chopped basil.
Mix and serve at room temperature