Nov. 16, 2007
The Indian government has approved the National Biotechnology Development Strategy developed by the Department of Biotechnology (DBT). The strategy envisages the setting up of a national biotechnology regulatory authority. It would act as an autonomous body to provide a single window mechanism for biosafety clearance of genetically modified products and processes.
The Strategy is the outcome of a two-year consultation process involving the state, the private sector, research institutions and consumer groups. It aims to provide a boost to research and development in the private sector by allocating 30% of the DBT's budget to public/private partnership programmes. The DBT hopes to boost the turnover of the Indian biotechnology industry to $5,000 million by 2010. The bio-agri sector accounts for 8.42% of the biotechnology sector, and biopesticides account for 2.5% of the pesticide market.