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Friday / October 18. 2024

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HomePosts Tagged "FSII"
AgroPolicy, India, Seeds

FSII appreciates the GST rationalisations on seeds raw materials and services, and Atmanirbhar Oilseeds Abhiyan.

Union Finance Minister Nirmala Sitharaman presented the interim Union Budget for forthcoming financial year (2024-25) in the parliament.FM announced schemes and special programmes for the various sectors of agriculture.

While sharing the post-budget reaction on behalf of Federation of Seed Industry of India (FSII) Ajai Rana, Chairman, FSII, CEO and Managing Director, Savannah Seeds Pvt Ltd said that having steered the economy to a glorious path in the last one decade with progressive reforms in agriculture, it is heartening to see the Finance Minister spell out the vision for making India Viksit by 2047 that relies on continued momentum on advances made so far. The Seed Industry is particularly happy to see the emphasis given on oilseeds and the imperative to make the sector self-reliant in this interim Budget.

We welcome the Finance Minister’s announcement on Atmanirbhar Oilseeds Abhiyan with a focused strategy on achieving self-reliance in oilseeds, such as mustard, groundnut, soyabean, sesame and sunflower. This is a timely and effective step that shall augment our aspirations to become self-reliant in this critical sector. As India continues to make rapid strides towards being a world leader, it is vital that we embrace globally approved technologies. The industry applauds Government’s focus on high yielding varieties of seeds, adoption of modern farming techniques, market linkages, procurement, value addition and crop insurance.

The Rs 1 lakh crore R&D corpus allocation for 50 years with low or nil interest is a visionary move guided by Hon PM’s focus on Jai Jawan, Jai Kisan, Jai Vigya & Jai Anusandhan.

The focus on reform, perform and transform has been evident in the Government’s work in the last one decade. We sincerely hope in the Full Budget after the new government, we shall see the spirit reflected in aspirations of the seeds industry by way of GST rationalizations on seeds raw materials and services, deductions on R&D expenses, progressive environment for enabling more investments in the sector.

FSII appreciates the GST rationalisations on seeds

India, Seeds

Federation of Seed Industry of India (FSII) has donated Rs 20 lakh to the Benefit Sharing Fund of Food and Agriculture Organisation’s (FAO) International Treaty on Plant Genetic Resources for Food and Agriculture (ITPGRFA). The donation was made at the ninth session of the governing body of the ITPGRFA in New Delhi.

Commenting on the development, Dr Arvind Kapur, vice chairman, FSII said, “Today, we would like to make a donation of Rs 20 lakh as an addition to the other financial contributions regularly made by the seed sector globally. However, I would like to highlight that the non-financial contributions of the seed sector towards food security are in no way comparable to this donation.”

Elaborating on the significance of the treaty, Dr Ajai Rana, vice chairman, FSII said, “The treaty is of particular importance for the FSII members as it provides a fair and simple mechanism for access and benefit sharing of germplasm, critical to breed varieties adapted to the local needs of Indian farmers. Every day, the seed sector across the world is working to provide farmers with the varieties that can help them make a decent living out of their hard work.” The ITPGRFA is a specialised international regime designed to facilitate the conservation and sustainable use of plant genetic resources for food and agriculture i.e., germplasm. It is harmonised with international regimes that support conservation, sustainable use and fair and equitable benefit sharing for all organisms, specifically the CBD and the Nagoya Protocol on access and benefit sharing.

Federation of Seed Industry of India (FSII)

AgroPolicy, Finance, Oilseeds

Some incentives for crop diversification from rice and wheat to oilseeds would have been very appropriate

Ram Kaundinya, Director General, Federation of Seed Industry of India (FSII) mentioned that the budget did not spell out any specific initiative for the biotech sector, however, it had a few things for the agri sector—especially the thrust on millets and increasing the domestic production of oilseeds.

In the Economic Survey, the government underlined the need for enhanced research in agriculture as well as oilseeds in addition to the need for crop diversification. However, no announcements to boost research in breeding and biotechnology were made in the budget.

For instance, It would have been in the fitness of things if the government had said that modern science and biotech would be used to boost oilseeds production in the country.

Also, some incentives for crop diversification from rice and wheat to oilseeds would have been very appropriate. Our industry sought restoration of tax-deductibility of research expenditure but looks like it has not been approved.

Some incentives for crop diversification from rice