The seed industry of India is unique in terms of its key segments—public, private and informal, each contributing almost equally in terms of volume of seed sown. Participation in the private sector is characterised by many players—from small, medium, large to very large; multinational corporates (MNC) to companies of Indian origin. They deal in a diverse set of crops and varieties to suit the varied agro-climates, as much as consumer preferences; and also the socio-cultural complexities. The sector has the advantage of a rich biodiversity and highly skilled manpower capable of handling crop improvement, seed technology, etc. It made significant gains from the adoption of Bt cotton seeds—the first GM crop of the country which encouraged the companies to apply biotechnological tools and other advanced techniques for development of other GM and non-GM crop varieties for more superior crop performance. However, there are several constraints due to the ambiguity and contradictions in the regulatory mechanisms that are followed by different states; ineffective mechanism of quality control, poor implementation of the existing laws and lack of support from science-based government policies. An enabling regulatory framework that can help the industry compete better in the world market and effective public-private partnerships would be vital for the sector to attain higher growth, turning India into a global seed hub.