"Strengthening of IPR, a scientific regulatory system, market-based pricing and policy harmonisation is crucial for seed industry"

As of 2023, the Indian seed market is valued at 3,914.36 million and is projected to grow at a compound annual growth rate CAGR) of 7.41 per cent by 2029. Initial Public Offerings IPOs) from the seed business, which has recently captured the interest of investors, are something that Indian investors are eagerly anticipating. Foreign Direct Investment for the development and production of seeds and planting materials is allowed by the government. Leading seed firms are combining cutting-edge digital technology, lending a further boost to the market to mitigate the effects of pests, climate, and other external factors on farming. The agricultural sector is poised for a prosperous future because of the convergence of data science, artificial intelligence tools, cutting-edge phenomic analysis, and genetic sequencing. In a conversation with AgroSpectrum, Rajendra Barwale, Chairman, Mahyco, discusses key developments and challenges of this sector.

- Nitin Konde

How is technology helping the seed sector thrive?

Every facet of our lives is undergoing a rapid transformation as a result of the application of technology. Not one exception to this pattern may be seen in the agriculture and seed industry. Seed firms can develop novel, efficient, and speedier technologies for the production of new genetics that can be supplied through seeds due to the growing knowledge base of biological sciences mixed with information technology. Agriculture is facing numerous difficulties due to the depletion of natural resources, the influence of rapid climate change, and the growing demand for the development of instruments for sustainable agriculture. We believe that the utilisation of the aforementioned instruments has the potential to offer long-term solutions for overcoming these issues and assisting in the fulfillment of the agri expectations. For instance, the application of technology could help reduce the amount of fresh water and chemical fertiliser used for farming.

How has FDI in seed manufacturing strengthened the seed industry in the country?

Since the late 1980s and the early 1990s, when a new seed policy was introduced, foreign direct investment (FDI) in the seed business has been permitted in India. The liberalisation of FDI was a significant factor in the acceleration of the development of the Indian seed industry, as well as the introduction of innovation and technology. In the long run, it is essential to cultivate such an environment for the seed industry to provide farmers with improved goods and technology, hence strengthening the overall competitiveness of Indian agriculture and improving the quality and productivity of our crops.