India
May 18, 2007
Source:
LiveMint.com via The Meridian
Institute's Food Security and Ag-Biotech News
Author:Jacob P. Koshy
This article says that the Indian Supreme Court's eight-month
ban on the approval of new field trials of genetically modified
(GM) crops was costly for biotechnology companies and research
organizations in India. The court ended its temporary ban this
month.
P. Vidyasagar, chief managing
director of the Indian seed company Vibha Agrotech Ltd., says
the ban cost his company "over Rs15 crore" (US$3.7 million).
Vidyasagar estimates that "For every month approvals are
delayed, the industry suffers losses worth Rs50 crore [US$12.3
million]."
R.K. Sinha, a spokesperson for the
National Seed Association of India, the country's largest seed
industry consortium, said he could not comment on the exact
losses, although he said that Vidyasagar is knowledgeable about
the industry and the "financial realities."
The article can be viewed online
at
http://www.livemint.com/2007/05/11232622/SC-ruling-on-GMOs-restarts-see.html |
