The Rs 5,000-crore Indian seed industry plans to double the agricultural production in the country. For this turnaround exercise, which requires new hybrids and varieities with improved traits for higher yield, the industry is seeking the launch of a technology mission on quality seeds. To function on the lines of the technology upgradation fund scheme (TUF) of the textile ministry, one of the main components of the mission is to encourage the setting up of seed banks by the private sector.
In a memoranda, to be submitted to the agriculture ministry next week, the National Seed Association of India (NSAI) has urged the need to set up seed banks across the country to meet the unexpected requirements of seeds in situations arising out of natural calamities. ?The technology mission must have provision to provide interest subsidy at 7% per annum for the loans availed for setting up of seed banks,? RK Sinha, executive director, NSAI, said. These seed banks would involve the construction of conditioned godowns and may require an investment of about Rs 15 crore apart from an maintenance cost of Rs 2.5 crore, he added. A seed bank is a place where seeds are stored in conditions where their viability and vigour are maintained with 5,000 – 10,000-tonne capacity.
Apart from the technology mission, the industry is also seeking infrastructure status in order to encourage investments in the seed sector. According to Sinha, the status would make the companies eligible for priority lending by banks apart from an exemption from income tax under Section 80 1A for a period of 10 years.
With the agricultural sector faced with challenge of climate change, the seed sector has become more critical for improving productivity with research and development effort coming to the forefront.