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Mr Kapil Sibal

Our Bureau

New Delhi, Nov 13 The Government has decided to set up a National Biotechnology Regulatory Authority, which would provide a single window mechanism for biosafety clearance of all genetically modified products and processes.

“The Department of Biotechnology (DBT) has been entrusted with the responsibility of setting up the authority and funding it,” the Science and Technology Minister, Mr Kapil Sibal, said here today, while launching the national biotechnology development strategy.

The Government has finalised the document after a two-year discussion with stakeholders.

“The authority would be set up through a legislation, which should be ready in three months,” Mr Sibal said, adding that the Bill is likely to be tabled in during the Budget session.

The biotechnology development strategy, aiming to help the Indian biotechnology industry generate at least $7 billion annual revenue by 2010 against the present level of $2.3 billion, also lines up various schemes to promote specialised educational institutions.

In order to promote the biotech industry, the Government has decided to invest up to 30 per cent of DBT’s budget in public-private partnership schemes by the end of XI Plan.

The investments would promote innovation, pre-proof-of-concept research, accelerated technology and product development in biotechnologies related to agriculture, human health, animal productivity, bio-manufacturing and environment.

To promote advanced technologies with long gestation periods where the private sector might be unwilling to invest, the Government has also decided to fund 30-50 per cent of project costs and let the private party retain the intellectual property – provided it pays a certain level of royalty to the contributing public sector scientists. During the XI Plan period, DBT is likely to be allocated Rs 6,500 crore against Rs 1,450 crore during the X Plan period.

More Stories on : Bio-tech & Genetics | Regulatory Bodies & Rulings

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