Any analysis of the Intellectual Property Rights relating to the seed industry in India needs to take congnizance of three inter-related issues: (a) that the current debate on IPRs is part of a larger debate on issues relating to GATT; (b) that the options on IPRs are intricately linked to the New Economic Policy and the accompanying liberalisation process; and (c) that the IPRs relating to plant varieties need to be seen in a broader framework of the seed policy pursued by the government. In this background, this paper reviews the available literature and data to explore the impact of IPRs on the seed industry in India. The paper begins with a description of technological, structural and policy contexts of the seed industry in India. Given these characteristics and evidence from other countries, the likely impact of the seed industry related IPRs is explored. Finally, some policy options available to developing countries like India in the emerging world order are briefly discussed.