CII backs govt on Monsanto

The Confederation of Indian Industry (CII) has urged the Andhra Pradesh government to continue its pressure on Monsanto, the major supplier of genetically-modified crop seeds, for further reduction of cotton seed prices.

The CII's request in this regard assumes added significance in the light of Monsanto moving the Supreme Court against the interim order of Monopolies and Restrictive Trade Practices Commission (MRTPC) directing Mahyco Monsanto Biotech India to reduce Bt cotton seed price.

The MRTPC gave the ruling on a petition filed by the AP government against Monsanto.

The CII seeks reduction in seed prices considering the need for continuous improvement of cotton production in AP, the third largest cotton producing state that accounts for about 16 per cent of India's total production.