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100% right and this is precisely how Bt brinjal or Golden Rice are developed http://www.isaaa.org/resources/publications/pocketk/35/default.asp
The only reason why part of the biotech market was initially taken over by US companies like Monsanto was because other companies did not even try to compete due to GM-phobia in their own countries.
This is now changing, mostly because Asian countries stopped listening to activists like Greenpeace or their own Vandana Shiva