GENETICALLY MODIFIED CROPS

Sugar cane is one of the most popularly cultivated crop as it serves our daily need in the form of sugar.  Apart from sugar we can also obtain molasses, during sugar production and that’s used as the raw material for production of rum and other spirits.
In the recent times gene technology has been incorporated in a variety of crops. The most important reason is that these genetically modified crops have proven to be resistant to virus, bacteria and fungus. These crops also seem to have developed insect resistance and adaptation to climate and location factors. In a country like India where dramatic climatic change seems to be an agricultural issue of major concern factors like drought resistance would prove to be useful thus reducing the risk of crop failure. 
Greater food security: Studies reveal that biotech crops increase the productivity per acre, while simultaneously reducing the cost of production. “The ISAAA report estimates that farmers worldwide have realized approximately $65 billion in economic gains over the 15-year period of biotech crop implementation (1996-2009). About 44% of those gains came from reducing the need for cost-intensive tillage and pesticides. The remaining 56% came in the form of crop yield gains.”-referenced
So by increasing per-acre yields, biotech crops can obviously help if not prevent at least reduce the rate of deforestation, thereby preserving crucial biodiversity. That’s not about it, biotech seeds have allowed farmers to cut back on the fossil-fuel intensive practice of spraying pesticides and herbicides on their fields.  Some reports show a significant reduction in CO2 emissions. “In 2009 alone, the total carbon sequestration attributable to biotech farming is 16.3 kg of CO2-equivalent to removing 7.8 million cars from the road.”-referenced. This is delightful news as this would mean slackening of green house gas emissions.
Genetically modified crops have their own disadvantages as well. Genes from these crops could be transferred to the pests. So what happens is that the pests become resistant to the crop spray over time and the crop spraying becomes useless. They can also pollinate weeds so they might acquire pesticide resistance.

My views: It has been estimated that agriculture uses approximately 70% of the earth's current fresh water supply. And as we can clearly the global population is increasing at an alarming rate.  Along with soil conservation and reductions in pesticides, biotech seeds can also help by using less water which will be a great boon in the near future.  Moreover according to certain reports, more than 50% of the world's poorest people are small farmers, who depend upon agriculture for their living. So by raising the income levels of small farmers through greater yields, biotech crops such as maize and sugar cane can help to alleviate poverty and hunger. So I personally think that it would be a smart option to cultivate these crops on a large scale ignoring their minor flaws.