In order to build a framework for the assessment of new genetically modified (GM) products, a government think tank, Research and Information System (RIS) has submitted a report to Ministry of environment, forest and climate change (MOEFCC) based on socio-economic aspects.
On the basis of the report, the ministry is likely to finalize the framework for application.
The companies which want to apply for the approval of their GM products need to address economic, social, cultural, health and environmental aspects.
The assessment of impacts of genetically modified products is important. According to a report of ‘The Economic Times’, the yield of BT cotton seed oil is now one fourth of the oil that used to come from desi cotton. As a result those who depend on cotton oil have been impacted economically.
Further, that the country never had any framework for socio-economic assessment of technological intensive products. If it had one, Monsanto would not have charged Rs 1800 for 400 grams of BT cotton seed packet, which government eventually by issuing an administrative order brought it down to Rs 540 a packet.