AICBA terms MRTPC ruling not appropriate
Mumbai, May 13: The All India Crop Biotechnology Association (AICBA) today described as ''highly inappropriate'' the order by the Monopolies and Restrictive Trade Practices Commission (MRTPC) against Mahyco Monsanto Biotech (India) Limited (MMB) to force the latter to review its trait value.
A AICBA release here today said, ''This will only serve as a setback to both the agricultural sector and the biotechnology industry in India.'' The interim ruling of the MRTPC will create an unfavourable atmosphere in India with regard to corporate investments and will impede industrial and agriculural growth, the release said, adding that it was unfortunate that governments should promote the adoption of newer and better technologies across industries, while relegating agriculture to age-old methods that were failing to meet the ever increasing demands.
The ruling comes at a time when the nascent biotechnology industry in India had just begun to flourish and forcing companies to cut down on technology fees, which would have a direct and adverse impact on amount spent on necessary R&D, the release stated.
''In the end, it is the Indian farmers who stand to lose out on the benefits of Bt cotton if seed companies are forced to reduce R&D expenditure and cannot constantly analyse and improve their product on Indian soil,'' added the release.