Financial Daily from THE HINDU group of publications
Tuesday, Apr 26, 2005
Financial Daily from THE HINDU group of publications Tuesday, Apr 26, 2005 |
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Agri-Biz & Commodities
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Events CIMAP to work for improving patent portfolio Our Bureau
Hyderabad , April 25 THE Central Institute of Medicinal and Aromatic Plants (CIMAP), Lucknow is working on strengthening its patent portfolio. Talking to media on the sidelines of a national seminar on herbal industry here on Saturday, Dr S.P.S. Khanuja, Director of CIMAP, said the institute has obtained 100 patents so far. It had filed for 200 patents. The focus was on setting up a functional gene bank to evolve new genotypes. In his address Mr O.P. Goenka, President of Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), said India's share in the $62-billion global herbal market was just $1 billion. The World Bank projected that global market for medicinal plants and allied products was likely to grow to $5 trillion by the year 2050 reflecting an annual growth rate of 14 per cent. India stood third in volumes and second in value of world trade in aromatic oils. Mr Goenka said Indian fragrances industry was worth Rs 5,000 crore.
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