Ten major domestic and global seed firms, including Monsanto, Bayer and Dow, have formed a body to protest against the government's move to tighten regulation on genetically modified (GM) crops.
The newly set up Federation of Seed Industry of India (FSII) wants the government to allow the market to determine the prices of GM seeds, rather than any regulatory mechanism.
The move comes a day after Monsanto said it has withdrawn application seeking environment clearance for commercial release of its next generation GM cotton seeds in India because of regulatory uncertainties.
The federation has been established to place the seed firms' concerns before the Agriculture Ministry regarding its proposed draft notification on regulating the BT cotton seed market.
"We believe that the market should determine the prices ...We are for the market driven mechanism rather than the regulatory mechanism," FSII President M Ramasami told reporters.
The FSII, a splinter group of National Seed Association of India, has flagged its concerns to the government, he said.
Ramasami said the federation is driven by the fundamental value of respecting research and intellectual properties of each other companies. It will work to address issues affecting the growth of seed industry in India.
The other seven companies of FSII are Dupont Pioneer, Syngenta, Mahyco, Metahelix Life Sciences, Namdhari Seeds, Rasi Seeds and Bioseed-South Asia.
The 10 companies together have invested Rs 520 crore on research work and have 30 per cent share in the Indian seed market.
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