Seed Industry in India Driven by Government Support and Favourable Policies

Currently, the seed industry in India is experiencing a healthy growth. This growth can be attributed to the provisions made by the government in its favour, commercialization of agriculture and rising investments by the private sector.

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According to the latest report by IMARC Group titled, “Seed Industry in India: Market Trends, Structure, Growth, Key Players and Forecast 2017-2022”, the Indian seed market reached a value of more than US$ 3 Billion in 2016, exhibiting a CAGR of around 17% during 2009-2016. Seed is the most important component for sustainable farming, and its availability and quality define the growth of the agricultural sector. The production and supply of seeds are also crucial for food security in a region. As agriculture is a major occupation in India, it offers plentiful opportunities for the development of enhanced varieties of seeds. With the help of advance technology and modern agricultural methods, the seed industry in India has witnessed a healthy growth over the past several years.

Highlights of the Seed Industry in India:

Government support and introduction of progressive policies for the seed production remain the major growth driving factor.

Grain seed dominates the market and represent the most popular product type.

North India represents the largest producer of seeds, accounting for one-third of the total market share.

Implementation of progressive policies by the government has strengthened the Indian seed industry in terms of R&D, product development, supply chain management and quality assurance. Some of these policies are Seed Development, 1988 and National Seed Policy, 2002 which are responsible for the reformation of the Indian seed industry and have opened doors for numerous multinational and domestic seed companies. Significant participation of both, public and private sectors is also driving the industry, thereby, providing better market access to foreign seed companies as well. Growth in income levels, commercialization of agriculture, patent protection systems and intellectual rights over plant varieties are some of the other factors that have given a push to the market. Due to the aforementioned factors, the seed industry in India is further expected to reach a value of more than US$ 7 Billion by 2022.

On the basis of type, the report has segmented the Indian seed industry into grain seeds, oil seeds, vegetable seeds and fruit seeds. Currently, grain seeds dominate the market, accounting for more than a half of the total seed production. Region-wise, North India is the largest producer of seeds, accounting for around one-third of the total market share. Other major regions include West India, South India and East India. On evaluating the competitive landscape, it is found that Advanta Seeds, Nuziveedu Seeds, Kaveri Seeds, PHI Seeds and National Seeds Corporation are some of the key players operative in the market.

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The report by IMARC Group has examined the Seed Industry in India on the basis of:

Seed type:

Grain seeds
Oil seeds
Vegetable seeds
Fruit seeds

Region:

North India
West India
South India
East India

Key players:

Advanta Seeds
Nuziveedu Seeds
Kaveri Seeds
PHI Seeds
National Seeds Corporation
Mahyco Monsanto Biotech
Mahyco Seeds
Syngenta Seeds
State Farms Corporation of India
Ankur Seeds

Browse related reports :

Agriculture Industry in India @ http://www.imarcgroup.com/agriculture-industry-in-india

Indian Agricultural Equipments Market @ http://www.imarcgroup.com/farm-agricultural-equipments-industry-india

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This release was published on openPR.