Agrochemicals major BASF India today said it will stop its rice yield enhancement project and close field testing sites in the country as part of a global restructuring exercise.
"Consequent upon the global restructuring, the yield enhancement project in rice will be discontinued and the field testing sites in India will be closed. The restructuring is expected to be completed by the end of the year 2016," BASF India Ltd said in a regulatory filing.
In 2014-15, income from contract research of plant science business in India was Rs 80.6 million, which constituted 0.2 per cent of total income of company for the year.
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BASF India's parent company BASF-SE, Germany has decided that it will refocus global biotechnology research portfolio as well as restructure the global operations of its plant science subsidiary.
In India, the company has been engaged in a project to develop yield enhancing traits in rice on behalf of BASF Plant Science Company, Germany.
