CCI probe finds Monsanto abused dominant position: Report

CCI probe finds Monsanto abused dominant position: Report

A probe by the Competition Commission of India (CCI) has found that Monsanto abused its dominant position as a supplier of genetically modified (GM) cotton seeds in the country.

In 2016, India’s farm ministry and some local seed companies complained that Monsanto was charging unreasonably high royalty fees for its GM technology.

The CCI has powers to impose a penalty of up to 10% of the company’s relevant turnover in the past three financial years if it agrees with the report’s findings.

Monsanto launched the GM cotton variety in India in 2002 despite opposition from critics who questioned the safety of genetically-modified crops.

It has been locked in a battle with Indian seed makers, including Nuziveedu Seeds, which is one of the complainants at the CCI.

CCI

Competition Commission of India is a statutory body of the Government of India responsible for enforcing The Competition Act, 2002 throughout India and to prevent activities that have an appreciable adverse effect on competition in India.

It was established on 14 October 2003.