Context:
The Indian Parliament has recently amended the two-decade-old Biological Diversity Act of 2002. An Act to provide for conservation of biological diversity, sustainable use of its components and fair and equitable sharing of the benefits arising out of the use of biological resources, knowledge and for matters connected.
Key Points:
Amendments Overview:
The revisions to the Act primarily aim to address concerns related to traditional medicine, the seed sector, and the pharmaceutical industry.
Encouraging indigenous medical systems like Ayurveda and attracting foreign investment for conserving and commercializing India’s biological resources are focal points.
Certain categories of biological resource users, such as practitioners of Indian medical systems, are not liable from making payments towards access and benefit-sharing mechanisms.
Companies registered in India and under Indian control, regardless of foreign equity or partnership, are now consider as Indian entities, easing restrictions.
Provisions have been include to expedite approval processes for utilizing biological resources in scientific research and filing patent applications.
Biological Diversity Act, 2002:
It is place with the UN Convention on Biodiversity (CBD). It aims to ensure Fair and Equitable Benefit Sharing (FEBS) for local communities preserving biodiversity.
The Act laid down principles for access and benefit-sharing, later formalized as the Nagoya Protocol.
Conclusion:
The recent amendments to India’s Biological Diversity Act focus on fostering indigenous medical systems, attracting investment, and simplifying compliance procedures. The changes aim to balance resource utilization with fair benefit-sharing and streamline processes for scientific research and patents.
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