"The proposed policy would focus on incentivising research and development activities in biotechnology by way of public-private-participation and we would give a final shape to the policy within the next couple of weeks," Minister for Science & Technology Kapil Sibal said.
The Centre, on Saturday, said it will finalise the framework for the proposed biotech policy, that seeks to incentivise research and development in the sector, within the next two weeks.
“The proposed policy would focus on incentivising research and development activities in biotechnology by way of public-private-participation and we would give a final shape to the policy within the next couple of weeks,” Minister for Science & Technology Kapil Sibal said at CII Lifesciences Conference here.
Drug development
He said the new policy is aimed at providing assistance to lifescience companies in all stages of drug development and dealing with intellectual property right issues.
The minister said the proposed policy would work towards better co-ordination between the industry and government-owned research institutes.
“Emphasis would be given on equity partnership between industry and government-promoted research institutes such as Council of Scientific & Industrial Research (CSIR),” Mr Sibal said.
The government would ensure that the data compiled in various research works in biotech sector is available for use by common people and is not restricted to being reference material in libraries, he added.
It would include regulatory procedures, guidelines for public-private partnership, a single-window clearance for agri-biotech products, and support for product development, Sibal told reporters at a conference of life science companies.
India’s biotechnology market is about $2 billion, or 1.1 per cent of the global industry, and is expected to touch $5 billion in 2010.
