New bio-technology strategy soon: Kapil Sibal

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New Delhi, Oct 13: Minister for Science&Technology Kapil Sibal has said the government is willing for partnership with the Indian Industry for the new bio-technology strategy and will announce a policy within the next two weeks.

''Government is planning to implement a policy framework to ensure support to the Life Science companies at the initial stage of product development, launch of the product and assist the companies to deal with intellectual property right issues,'' the Minister said at the valedictory session of 'Life Science Conclave - 2007', organised by the CII here yesterday.

''We are willing to go into equity relationship with private companies and provide grant for research and development,'' Mr Sibal said.

Universities should be the focus of R&D and private companies should allow students to experience the facilities, Mr Sibal said.

Companies should concentrate on product oriented research and commercialisation of the outcome to make India a global hub in bio-technology, said the Minister. He applauded the Life Science Industry for responding positively on the drug price policy of the Government.


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