Agri biotech secures 3rd largest position in the Biotechnology sector in terms of total revenues. After the huge success of Bt cotton, covering more than 80% of the total cotton area, agri biotech has attained this position. As per the report of United States Department of Agriculture, Agri biotech sector has achieved the total revenues of 1,940 Crores in the fiscal year 2009-2010 which is a 37% growth over the previous fiscal. Whereas, export revenue from agricultural biotechnology is estimated at Rs. 58 Crores in the last fiscal year. The adoption of Bt Cotton is supposed to be the reason for development of Agri Biotech into one of the fastest growing segments of the Indian Biotech Industry. This will also encourage Seed Firms to invest on Research and Development on the Agri Biotech segment.
Source: Gubba Seed News (Vol-23 September- October 2010)
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GM cotton acreage in India continues to grow at a rapid rate, increasing from 50,000 hectares in 2002 to 8.4 million hectares in 2009. The total cotton area in India was 9.6 million hectares (the largest in the world or, about 35% of world cotton area), so GM cotton was grown on 87% of the cotton area in 2009.[21] This makes India the country with the largest area of GM cotton in the world, surpassing China (3.7 million hectares in 2009). The major reasons for this increase is a combination of increased farm income ($225/ha) and a reduction in pesticide use to control the cotton bollworm.
Thanks onkar for the valuable data...
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