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India - Govt. Plans to Invest Rs 1,000 Crore in Agri-biotech through PPP
Jul 16, 2007
The Indian government has ideated to invest Rs 1,000 Crore to develop its agri-biotech sector with the help of Public Private Partnership (PPP), reported a top official of the country’s leading agriculture institute, Indian Agricultural Research Institute (IARI).
However, as per S A Patil, Director, IARI, the plan is in its conceptual stages. He was speaking at the annual biotech fair in Bangalore. Mr. Patil compared the development of agri-biotech sector with that of medical and industrial sectors and said that agri-biotech also needs large investments to foster. And it can be easily achieved through PPP, reports THE FINANCIAL EXPRESS on June 9, 2007.
Since India is the world’s second largest food producer, the potential in the agri-biotech sector is immense. Also, it has an 8,000 Km long aquaculture rich coastline.
K.K. Narayanan, President, Association of Biotechnology-led Enterprises (ABLE), said "India's agriculture sector has certain advantages such as 126 million hectares of arable land, climatic and soil variations that can support most crops and more than one crop season in each year. But, like our showing in the World Cup, we are far behind other countries of comparable size in food crops production”, as reported by THE HINDU on June 10, 2007.
However, biotechnology can be employed in diverse areas to benefit India. A balanced equation of strategic research, effectual association, and product planning would help sustain biotechnology growth in the country.
A recent report by RNCOS, “Asia-Pacific Biotechnology Market (2007-2010)” also cites India as a country that have an immense potential to establish itself among the most important biotech players on the international platform by 2010. India’s agriculture and food sector accounted for 9% share in the total biotechnology market in 2005. Growing application of biotech in agriculture would result in the production of GM (Genetically Modified) seeds, and hence, better crop quality and high return rate to farmers.
Production of more food grains with less resources would be an added advantage. The market research reports also addresses some other interesting issues and facts that are critical for the success in Asia-Pacific biotechnology industry, such as market trends in the industry, course of market growth for the next five years, forces that are working in favor of industry and issues confronted by the industry.
For more information visit: http://www.rncos.com/Report/IM520.htm
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