Prospects of Seed Entrepreneurship in India

Author: Mukesh Kumar and Prabir Chakrabotri

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Abstract

Seed sector is very vibrant and dynamic in nature. Initiations for setting up a new seed business are important for young entrepreneur primarily for two reasons. Firstly, it enhances the capacity of the formal seed sector. Secondly, it contributes to livelihood augmentation of seed growers as well as stakeholders. Local growers, when incentivized and supported, can take up seed business to cater to the unmet seed needs of the locality. While India is the fifth largest seed industry globally, it has a miniscule share in global seed trade which accounts to approximately less than 1.0 percent of the total global exports. Despite this, India has an exceptional chance to expand export market to both sub-tropical and tropical regions of the world due to its vast geographical and agro-climatic diversity. Furthermore, India possesses trained workforce to meet the needs of Research and Development allowing to become a worldwide seed hub for breeding varieties for a variety of global markets and custom seed production. Presently, India is also undertaking custom production in vegetable seeds and have potential to become a global leader in it. Moreover, with increasing number of health-conscious consumers, the quality specific demand for food has been the major growth driver for demand of bio fortified varieties. Thus, the inherent factor such as diverse agro-climatic conditions, huge domestic market, export potential, vast germplasm base, availability young, skilled and cheap workforce etc. are the driving force for attracting new seed entrepreneur despite having highly dynamic, diverse, innovative and highly competitive seed market.

Keywords

Entrepreneurship, Quality Seed, Hybrid, Seed Industry

Conclusion

Seed sector is emerging as a new destination for young entrepreneur in India mainly due many inherent factors such as diverse agro-climatic conditions, vast germplasm base, low seed replacement rate, huge demand of hybrid seed, availability young, skilled and cheap workforce favourable for initiating the seed business. The Indian seed industry is highly dynamic, innovative, internationally competitive, and diverse, that further allowing new seed entrepreneurs to flourish. Huge domestic market still remains untapped due to use of farmers saved seed and also vast potential of growth in export market. For new seed entrepreneurs, the hybrid seed business is currently the most lucrative market area.

References

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How to cite this article

Mukesh Kumar and Prabir Chakrabotri (2024). Prospects of Seed Entrepreneurship in India. Biological Forum – An International Journal, 16(2): 25-31.