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US seed giant Monsanto has threatened to pull its genetically modified crop technology from India if the government goes ahead with its plan to cut the company’s royalty fees.
Monsanto’s joint venture firm in India said that it would be difficult to bring new technologies to India because it was becoming difficult for the company to recoup its investments in research and development of genetically modified seeds.Shilpa Divekar Nirula, chief of Monsanto’s India unit, said in a statement seen late Saturday that if the committee recommends imposing a cut in the fees that local seed companies pay to use Monsanto’s crop genes then the company would have to reevaluate its position in India.
Nirula said it was difficult for Mahyco Monsanto Biotech (India) Limited, the company’s joint venture, “to justify bringing new technologies into India in an environment where such arbitrary and innovation-stifling government interventions.The company said it was “shocked and disappointed” at the news that the government plans to reduce the “trait fees,” or the fees that seed companies pay Mahyco Monsanto to use its crop genes, by around 70 percent.
Monsanto said about 7 million cotton farmers in India use its seeds. Over the last two decades, millions of small farmers have adopted genetically modified cotton seeds, making India one of the world’s biggest producers of cotton and a major exporter of raw cotton.
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