By Raghavan Sampathkumar, Executive Director, Federation of Seed Industry of India
Seed is the first and the best hope a farmer has and it is the foundation of “Socio-Economic Empowerment and Development”. Over the last decade, the Indian seed industry has expanded both in size and performance, involving both private and public sector entities. In 2022, the Indian seed market was valued at $6.3 billion, projected to reach $12.7 billion by 2028, with a CAGR of 12.43 per cent. Thanks to several foresighted and proactive initiatives by the Government of India, the country has witnessed an increased seed replacement rate, for example, in rice, rising from 40 per cent in 2011 to 64 per cent in 2017. The seed industry’s foundation was established in the 1960s and subsequent policies in the late 1980s, including the New Seed Development Policy (1988-1989), transformed the industry and provided Indian farmers access to superior seed and planting materials.
The Indian seed industry is at the forefront of innovation, focusing on areas such as pest and disease-resistant seeds, drought and heat-tolerant varieties, and more nutritious options to address the challenges of climate change and enhance nutritional value. Precision breeding techniques, along with data-driven approach and biotechnology innovations to develop new seed varieties that are resistant to pests, diseases, drought, and heat etc., are gaining ground. More advanced seed technologies have bolstered agricultural productivity as climate change, with its unpredictable weather patterns and increased pest resistance, presents a significant hurdle. Regulatory hurdles, such as the classification of genome-edited crops, hesitancy in acknowledging the important role and contribution of genetically modified (GM) crops and their utility remain big challenges for the growth of the Indian seed sector.
Key drivers of growth include a growing demand for high-quality seeds as farmers are becoming increasingly cognizant of the importance of using high-quality seeds; government support; adoption of digital technologies and increased investment from private and foreign entities. For the sustainable growth and development of the Indian seed industry, several policy and regulatory measures should be prioritised:
Policy & Regulatory Environment: Reforms are essential to establish a stable, predictable, transparent, and science-based policy and regulatory framework.
National Accreditation for R&D-based Companies: A system of accreditation for national-level seed research companies should be established, recognising their extensive efforts in research, data analytics, and quality control.
Investment in R&D: Encouragement of both public and private investment in seed research and development is crucial, with incentives and grants to foster the development of high-yielding, climate-resilient, and nutritionally rich seed varieties.
Restoration of Tax Deduction: To encourage increased R&D investment in the seed industry, the restoration of a 200 per cent income tax deduction for R&D expenditure is recommended.
Developing Climate-Resilient Seed Varieties: Incentivise the development and adoption of climate-resilient seed varieties to address the challenges posed by climate change, such as drought-tolerant, flood-resistant, and heat-tolerant seeds.
Regulatory Testing of New Technology Products: Implement a smooth and predictable process for field testing of new technology seeds.
Encourage Seed Export and International Collaboration: Develop a comprehensive “National Seed Production & Trade Policy” to facilitate seed exports and engage international seed research institutions for knowledge and technology sharing. Work towards making India a global hub for seed production and exports, aiming to capture at least 10 per cent of the global seed trade market.
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