India: Regulator finds Monsanto abused dominant position

A probe by the investigations unit of India’s antitrust body has found that Monsanto abused its dominant position as a supplier of genetically modified (GM) cotton seeds in the country, reported Reuters.

The Competition Commission of India (CCI) in 2016 ordered the unit to carry out the probe after India’s farm ministry and some local seed companies complained that Monsanto was charging unreasonably high royalty fees for its GM technology.

The investigation unit’s report will now be reviewed by senior members of the CCI. The watchdog 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.

Full Content: Reuters

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