Relaxation of norms on Biotechnology Sector

New Delhi, Aug 7 (UNI) An Empowered Group of Ministers (EGoM) while considering the provisions of setting up of Special Economic Zone (SEZ) and the SEZ Act and Rules considered the proposal for relaxations in biotechnology sector, the Rajya Sabha was informed today.

In a written reply, Minister for Science and Technology and Earth Sciences Kapil Sibal said that the EGoM has relaxed provisions in terms of both the land area and built-up area requirement for biotechnology sector to the tune of 10 hectares and 40,000 square metres to encourage entrepreneurship, innovation and greater participation of small investors in the areas of biotechnology in general and health and agriculture in particular.

The Government has taken special measures to promote the biotechnology industry and to facilitate increase in turnover of biotech sector.

Initiaitves have been taken to provide an enabling environment for industrial growth such as exemption of biotech sector from compulsory licensing; permitting 100 per cent FDI in the sector, reducing the area of SEZ to bring it at par with IT sector; providing fiscal incentives to in-house R&D recognised industries in terms of exemption of custom duty on capital goods, reduction in import duty and 150 per cent weighted deduction against expenditure incurred on in-house R&D.

Department of Biotechnology is also supporting R&D and technology development, both in the public and private sector, for developing products and processes which provide affordable biotechnology solutions to the growing food insecurity and health problems.

The minister said that R&D in agriculture biotechnology is being supported to develop improved crop varieties resistant to abiotic and biotic stress, specially drought. Salt resistant transgenic rice has been developed and is currently under field trial. Bio fortification of important staple crops such as rice, wheat and maize for enhancing macronutrients such as iron and zinc has been initiated.

The country also participated in the International Rice Genome Programme with ten other countries. Full sequence of rice genome has been completed. It is expected that the decoded rice genome will help in the discovery of gene and DNA makers for development of improved varieties.

In the health sector, research is continuing for developing low cost affordable solutions for public health. A number of vaccines and diagnostics have been developed which are under different stages of trial.

Diagnostics for HIV, Japanese Encephalitis have been transferred to industry. Rota virus vaccine is in the advanced stages of trial along with the industry. Programmes have also been supported for developing identified drug targets for treatment of communicable/non-communicable diseases, Mr Sibal said.

UNI BBS CS KP1929