This is the question a viewer asked after he watched the video. Here is a simplified response:
Farmers take loan because the price of inputs for farming that includes seeds, chemicals, fertilizers, water has increased manifolds in the past two decades, especially with the advent of Genetically Modified Seeds. These seeds that are sometimes 10 times more expensive than traditional seeds need larger quantity of fertilizer, chemicals and water. Even then, the yield is not nearly 10 times as much. To add to the problems, the price of the end product, in this case Cotton, is now pegged to the world price of Cotton, which means it fluctuates widely. When the world price of cotton falls, farmers in western countries are supported by subsidies by their governments, where as farmers in India are left saddled with loans that they can't pay back. When the new season arrives, then need to buy seeds again (GMO seeds cant be saved due to patent restrictions) along with all other inputs, and the vicious circle continues.
If you want to know more in depth, please read the excellent study conducted by Center of Human Rights And Global Justice by NYU School of Law:
http://www.chrgj.org/publications/docs/every30min.pdf
Farmers take loan because the price of inputs for farming that includes seeds, chemicals, fertilizers, water has increased manifolds in the past two decades, especially with the advent of Genetically Modified Seeds. These seeds that are sometimes 10 times more expensive than traditional seeds need larger quantity of fertilizer, chemicals and water. Even then, the yield is not nearly 10 times as much. To add to the problems, the price of the end product, in this case Cotton, is now pegged to the world price of Cotton, which means it fluctuates widely. When the world price of cotton falls, farmers in western countries are supported by subsidies by their governments, where as farmers in India are left saddled with loans that they can't pay back. When the new season arrives, then need to buy seeds again (GMO seeds cant be saved due to patent restrictions) along with all other inputs, and the vicious circle continues.
If you want to know more in depth, please read the excellent study conducted by Center of Human Rights And Global Justice by NYU School of Law:
http://www.chrgj.org/publications/docs/every30min.pdf
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