Germany’s Bayer AG, which acquired US biotech firm Monsanto in June, recently said new Bt cotton seed technology cannot be introduced in India as it is no more profitable and financially viable because of royalty issues. The acquisition of Monsanto is over globally but is still in process in India.
Monsanto, which has been selling genetically modified (GM) cotton seeds in India through its joint venture Mahyco Monsanto Biotech that has sub-licensed Bt cotton seed technology to various domestic seed companies, is involved in legal battles with the Indian Government and Indian company Nuziveedu Seeds.Germany's Bayer AG, which has acquired US biotech firm Monsanto, recently said new Bt cotton seed technology cannot be introduced in India as it is no more profitable because of royalty issues. The acquisition of Monsanto is over globally but is still in process in India. Monsanto is involved in legal battles with the Indian Government and Nuziveedu Seeds.#
The company needs to be compensated for investment made in research and development (R&D) to come up with innovative products, Bob Reiter, global head of R&D, crop science division of Bayer, told a news agency.
The Indian Government has stepped into a conflict that started between licensees and turned more complex, Reiter, who was earlier the global vice president of R&D and integration strategy at Monsanto, said.
New products in the lab that can address farmers’ issues cannot be introduced because of financial viability, he added.
Next year, The Climate Corporation, Bayer AG’s US-based subsidiary, will launch in India a mobile platform ‘FarmRise’ that will provide agronomical information and advice to help farmers sustainably improve crop yields. Its pilot project is already under way in the country. (DS)
Fibre2Fashion News Desk – India
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