Three leading Indian cotton seed makers have settled an intellectual property dispute with Monsanto Co. over its genetically modified (GM) seed technology, partly ending a legal tussle that has drawn in the Indian and U.S. governments.
Ajeet Seeds, Kaveri Seed Co. Ltd. and Ankur Seeds were among six Indian companies that delayed payments to Creve Coeur-based Monsanto, demanding a cut in royalties they paid to the U.S. firm to license its technology.
The dispute with the seed companies had prompted an ongoing disagreement between Monsanto and the Indian government over its genetically modified cotton seeds. India capped the prices and royalties company is allowed to charge on its cotton seeds last year, and Maharashtra Hybrid Seeds Co. Ltd. (Mahyco), Monsanto’s technology partner in India, reportedly later sent a letter objecting to the Indian government’s proposal that would force Monsanto to share its technology with seed companies. The conflict prompted Monsanto to withdraw from some business in India.