Cabinet approves amalgamation of SFCI with National Seeds Corporation

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The Union Cabinet on Thursday approved the proposal to amalgamate State Farms Corporation of India (SFCI) with National Seeds Corporation (NSC), both wholly owned (100% share) Public Sector Undertakings under Department of Agriculture.

"The amalgamated entity will serve the interest of the farmers and the changing requirements of the Indian agricultural sector in a more effective way," said the Ministry of Agriculture in a statement.

Through this amalgamation, the Ministry hopes to achieve its goal of providing quality, affordable seeds to every farmer even in the remotest parts of the country.

Also the Ministry expects the combined turnover of two entities would increase from Rs 1180 crore to Rs 2046 crore by the year 2017 and Rs 3112 crore by the year 2020.

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Story first published: Thursday, December 26, 2013, 22:00 [IST]
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