Agri Biotech sector has been given 3rd ranking in terms of returns and industry value by the world renonwed agri agency, USDA. The sector recorded a record turnover of Rs 1940 cr during the FY 09-10. The spurt has mainly been driven by the Bt Cotton's unimaginable level of acceptance by the Indian farmers, which today covers around over 90% area under total cotton crop, thus it has enhanced and ensired manifold returns. Export revenue from agri biotechnology was estimated at Rs 58 crore in the last fiscal. The total size of the domestic biotech industry is around Rs 14,200 crore ($3 billion) and pharmaceuticals is the largest sector in the segment accounting for 61 per cent followed by bioservices with 19 per cent share in it. Besides Bt Cotton, Indian private seed companies and public sector research institutions are working on the development of various biotech crops aiming at improving pest resistance, nutritional enhancement, drought tolerance and yeild enhancement qualities.
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