The article underscored the need for domestic seed companies to begin registering seed varieties for common vegetables soon. The vegetable seed market is more profitable in comparison to the field crop sector as farmers do not usually save seeds for the next crop. The article notes the presence of over 500 private sector players in the seed industry and research being neglected prior to the entry of multinational players.
Is Mahyco a purely domestic company?
Mahyco-Monsanto joint venture is still fresh in public memory owing to the infamous disaster caused by the failure of Bt Cotton crops in Andhra Pradesh (click for a detailed article and post on the same). The joint venture was formed for the marketing of Bt Cotton hybrid seeds. The formation of the joint venture was followed by the acquisition of a 26 percent stake in Mahyco by Monsanto at a cost of Rs.182 crore in April 1998 (click here for the news item).
The domination of multinational companies thus continues.
Image from here.