Biotech industry seeks level playing field

Agri biotechnology industry has urged the government to create a level playing field similar to chemical fertilizer to reduce overall import bills.

 

Santosh Nair, Chief Executive Officer of Camson Biotechnologies Ltd, said, "A level playing field needs to be created between the chemical fertiliser and bio-fertiliser industry. A budgetary allocation of even 10% of the subsidy being provided to chemical fertilisers will provide a huge boost to the bio-fertiliser industry.Such a step would revolutionize the agricultural landscape in India, as it will reduce the buying cost of bio-inputs by more than 50%. This would empower farmers to gain greater agricultural efficiency and success while improving India's soil health at the same time."

 

Excessive use of chemical fertilisers as subsided by the government at below the cost, has lead to many serious agricultural issues besides dragging down the economy and inflating the import bill.

 

Currently, India's total subsidy bill stands at around 2,20,000 crore of which around 30% goes for urea requirement to the tune of around 32 million tonnes.

 

India imports nearly half of its complex fertilisers requirement of around 28 million tonne a year.