Global and domestic seed companies like Monsanto, Syngenta, Rasi Seeds and Shriram Bioseeds have formed a new association 'Alliance for Agri Innovation' to address policy issues related to the sector and promote new farm technologies.
The new association has been formed following a legal battle between US biotech major Monsanto and Indian firm Nuziveedu Seeds Ltd over patent and royalty issues.
The new industry body will promote new and emerging agricultural technologies for the benefit of Indian farmers, the the Alliance for Agri Innovation (AAI) stated.
Bayer Bioscience, Dow Agro Sciences, DuPont Pioneer, Mahyco and Metahelix are also members of the new Alliance.
In recent past, the Delhi High Court dismissed Monsanto's plea to enforce the patent for its BT cotton seeds in India.
The association said that it would focus on promoting the development of agricultural biotechnology and other emerging plant breeding innovations in India to create value for farmers in India.
The AAI would also work with all stakeholders to create an ecosystem which provides protection for Intellectual Property Rights (IPR), the statement added.