Syngenta to take over 3 yrs to launch GM seeds in India
Switzerland-based agribusiness company Syngenta on Friday said it would take over three years to roll out Genetically Modified seeds for Indian market.
By PTI |
CHANDIGARH : Switzerland-based agribusiness company Syngenta on Friday said it would take over three years to roll out Genetically Modified seeds for Indian market.
"I do not think we can introduce our GM seeds in the next three years in India," Syngenta Head, Asian countries, Andrew Guthrie said here, on being asked when company would launch GM seeds in Indian market.
He further elaborated, "Unless the GM technology becomes accepted in India and government has clear policy on it, we cannot think of entering Indian market."
The company has formally launched the commercial sale of GM seeds for corn, soyabean and oilseed crops in the US, Argentina and Brazil.
It may be mentioned here that In India, at present US- based Monsanto is the leading GM seeds selling company, through Indian partners.
ADVERTISEMENT
Concerned over the degradation of soil fertility because of overuse of fertilisers, Syngenta has also significantly reduced the quantum of active material by 50 per cent in its products. "Seven to eight years ago we had 130 active materials and now it has been reduced to 70," Syngenta Global COO John Atkins said, while emphasising on the training of farmers on judicious use of herbicides and pesticides.
The company aims to grow by 10-15 per cent in the country in terms of total business. "We are projecting to grow by 10-15 per cent in the country this year," Syngenta India President Prakash Apte said.
Syngenta has recorded a turnover of Rs 1,100 crore from Indian operations in 2007 and major portion of revenue comes from crop protection products and seeds.
ADVERTISEMENT
Globally the company has sales of USD 9.24 bn out of total market size of USD 60 bn. Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
