Union Cabinet approves amalgamation of SFCIL with NSCL

New Delhi, Dec.26 : The Union Cabinet on Thursday approved the proposal of the Department of Agriculture to amalgamate the State Farms Corporation of India (SFCI) with the National Seeds Corporation (NSC), both of which are wholly owned (100 per cent share) public sector undertakings.

The amalgamated entity will serve the interest of the farmers and the changing requirements of the Indian agricultural sector in a more effective way.

The proposed amalgamation of SFCI with NSCL would help Ministry in achieving its goal to provide quality, affordable seeds to every farmer even in the remotest parts of the country.

This effort will ensure last mile availability of seeds at economical price for a large number of subsistence farmers in India.

The amalgamation of SFCI with NSC is expected to leverage their combined assets and capital for increased production of quality seeds for the farmers.

With the present growth rates, profitability and synergy, the combined turnover would increase from Rs.1180 crore to Rs. 2046 crore by the year 2017 and Rs. 3112 crore by the year 2020.

The merged entity is expected to occupy the prime position in the Indian seed industry by year 2020.

--ANI (Posted on 26-12-2013)

more-news headlines

Modi wrong person to handle Kashmir issue: K.C Tyagi

Enthusiastic voter turnout in North East reflects strong faith in democracy, peace

Delhi policeman rescues two minors from house on fire

Goa Congress unhappy with Karnataka unit over water dispute

Six killed in Kashmir road accident

Bihar mountain man's kin dies due to lack of medical care

40 children fall ill after eating ice-cream in Bihar village

EC launches voter awareness campaign with RED FM

Minor fire outside Delhi Metro station

Cloudy Saturday in Delhi, similar Sunday expected

CBI probe sought into Vadra's land deal

Two guerrillas arrested in Kashmir's Sopore

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top