Mobility paves Samsung’s silver path
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Avery
Farm biotech major Monsanto has expanded its research and development (R&D) facility for vegetable seeds near Bengaluru even as it gears up to roll out new disease-resistant and high-yielding hybrid varieties of tomato and peppers in the domestic market.
Upbeat on domestic turf
Speaking to reporters after inaugurating the expanded R&D facility, Kenneth Avery, Vice-President, Global Vegetable Business, Monsanto, said the Indian market offers major potential for the company to grow its business on the rising consumption of vegetables led by growth in population and increasing affordability.
Avery said the vegetable consumption in India, the second largest consumer after the United States, has been growing at 2-3 per cent per annum, while it was largely stable in the US and Western Europe.
Replying to a query, Avery said that the company has no plans to introduce the genetically modified vegetables in India as the costs of registrations were huge compared to the returns generated by such products.
No GM focus
He also said that the R&D centre here has no plans to work on the GM vegetable varieties.
Monsanto, which began its R&D centre at Kallinayakanahalli in Chikkaballapur district, near Bengaluru, with an investment of ₹25 crore in 2005, has been investing about ₹20-25 crore on an annual basis over the past few years. “We may increase our investments as we bring in more technology and products into the Indian market,” Avery added.
Late entrant
While the company tops the ranks in Asia, in India it is yet to catch up as it was a late entrant in the vegetables seeds business. Monsanto, which acquired Seminis in 2005 to foray into vegetable seeds, continues to sell its product under the same brand.
Monsanto currently is the third largest player in the Indian vegetable seed market after Syngenta and Nunhems, the vegetable seed business of Bayer Crop Science.
“We have been growing at around 15 per cent in the Indian market,” said Prashant Hegde, Asia Vegetable Business Lead, Monsanto. The company claimed to have a share of 10 per cent in the Indian vegetable seeds market, estimated at around ₹2,000 crore and growing annually by a tenth.
Monsanto currently has R&D staff strength of about 50 working on vegetables. "We will have room to accommodate another 30 R&D staff," said VK Kishore, vegetable R&D lead, for Asia.
Kishore said the company expects to soon launch a tomato variety that has an extended shelf life of 14-16 days as against the current variety in the market that can remain fresh for 7-8 days.
The company also proposes to launch a white variety of cauliflower next year.
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Antrix should adopt a different tactic than merely fighting over jurisdiction: Experts
Invest in relationships, enterprise, behaviour, effort and learning
From different types of osmoses to new membranes, researchers have come up with ways of drawing water
Only half the Sensex stocks have bettered the index’s return in the last 10,000-point journey
High valuation and stiff competition from larger players are a dampener
Investors with a short-term perspective can buy The New India Assurance Company (NIACL) stock at current ...
₹1490 • HDFC Bank S1S2R1R2COMMENT 1475146015051520 Fresh short positions are recommended with a stiff ...
What makes the new crop of young Indian cricketers such game-changing winners? Over and above their talent, ...
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
‘You ready to go to work?’ Joe Biden had asked Kamala Harris before naming her as his running mate. ‘Oh my ...
Writer Narendra’s latest book, rich with vignettes from Bastar and his native village in Uttar Pradesh, ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor