Financial Daily from THE HINDU group of publications
Monday, Mar 14, 2005
Financial Daily from THE HINDU group of publications Monday, Mar 14, 2005 |
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Industry & Economy
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Bio-tech & Genetics FICCI for fast track clearance for biotech clinical trials Our Bureau
New Delhi , March 13 THE Federation of Indian Chambers of Commerce and Industry (FICCI) has outlined a multi-pronged agenda including strategic alliance between entrepreneurs and the industry and fast track clearance for clinical trials of biotech products, to optimise the benefits of biotechnology for the country. The agenda, unveiled at Biohorizon 2005, the 7th National Symposium on biochemical engineering and biotechnology here, underlined the need for strategic alliance between entrepreneurs and the industry to spur contract research in India and facilitate the setting up of joint ventures. The key action areas identified by the FICCI included adherence to all IPR agreements including the modified Indian Patents Act incorporating product patent in pharma and agriculture, a fast track mechanism for clearance of biotech products for commercialisation and clinical trials and abolishing or enhancing the 8 per cent upper limit imposed on payment of technology import fee. It also called for amendment to the Indian Patents Act to include "gene constructs" under permitted categories to avoid hassles related to interpretation by customs.
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