Why India's Seed Industry is a Blueprint for Growth

Seed is the first and the best hope a farmer has and it is the foundation of “Socio-Economic Empowerment and Development”.

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Over the last decade, the Indian seed industry has expanded both in size and performance, involving both private and public sector entities. In 2022, the Indian seed market was valued at $6.3 billion, projected to reach $12.7 billion by 2028, with a CAGR of 12.43 per cent . Thanks to several foresighted and proactive initiatives by the Government of India, the country has witnessed an increased seed replacement rate, for example, in rice, rising from 40 per cent in 2011 to 64 per cent in 2017. The seed industry's foundation was established in the 1960s and subsequent policies in the late 1980s, including the New Seed Development Policy (1988-1989), transformed the industry and provided Indian farmers access to superior seed and planting materials.

The Indian seed industry is at the forefront of innovation, focusing on areas such as pest and disease-resistant seeds, drought and heat-tolerant varieties, and more nutritious options to address the challenges of climate change and enhance nutritional value. Precision breeding techniques, along with data-driven approach and biotechnology innovations to develop new seed varieties that are resistant to pests, diseases, drought, and heat etc., are gaining ground. More advanced seed technologies have bolstered agricultural productivity as climate change, with its unpredictable weather patterns and increased pest resistance, presents a significant hurdle. Regulatory hurdles, such as the classification of genome-edited crops, hesitancy in acknowledging the important role and contribution of genetically modified (GM) crops and their utility remain big challenges for the growth of the Indian seed big challenges for the growth of the Indian seed sector.