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Biotech sector major thrust area: Govt
March 21, 2003 15:10 IST
Government on Friday said it was eyeing the biotechnology sector as a major thrust area and would improve regulatory mechanisms for rational promotion of genetically-modified organisms.
Stating this in New Delhi at a three-day long seminar on agri-biotechnology, Planning Commission deputy chairman K C Pant said, "India already has adequate guidelines for bio safety assessment of risk of biotech products and processes. More steps are in the offing to improve the regulatory mechanisms for rational promotion of genetically-modified organisms."
Pant, who inaugurated the seminar, said India had an attractive opportunity for foreign companies to pursue biotechnology research and had supportive policy framework with low cost research base, export potential and a large domestic market.
He said with enormous potential lying untapped in biotech sector which was highly capital intensive, it was essential to develop public-private partnerships.
"The main mandate of public-private partnership should be to assist in capacity building, arranging international dialogue and ventures, exchange information and facilitate direct investment and venture capital," Pant said.
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