Tuesday, April 12, 2005
Good news on the biotech front
For once, the Indian government has decided to be pro-active in fostering quick growth in a key sector for the future -- biotechnology. The government recently announced its intention to allow 100% FDI through the automatic route in the biotech sector. The goal the government has set is that biotech become a $5 billion industry by 2010. The draft biotech strategy also addresses the issues of embryonic stem cells and the creation of a biotech regulatory body.
The policy states that embryos will not be allowed to be generated for the sole purpose of obtaining stem cells for embryonic stem cell research. Only surplus, or spare embryos should be used after obtaining informed consent of both spouses. Research based on stem cells derived from adult bone marrow or foetal cord blood may be undertaken only after obtaining approval from the appropriately constituted Ethics Committee and informed consent from the concerned subject, the strategy states.
The government proposes to set up a National Biotechnology Regulatory Authority to provide an effective clearance mechanism for all biotech products. In medical biotechnology, priority should be accorded to research in molecular and cellular biology, neuroscience, molecular genetics, transplantation biology, genomics, proteomics, system biology and RNA interference.
I can only hope the ethics and regulatory authorities will do for the biotech sector what the TRAI did for the Telecom sector.
The policy states that embryos will not be allowed to be generated for the sole purpose of obtaining stem cells for embryonic stem cell research. Only surplus, or spare embryos should be used after obtaining informed consent of both spouses. Research based on stem cells derived from adult bone marrow or foetal cord blood may be undertaken only after obtaining approval from the appropriately constituted Ethics Committee and informed consent from the concerned subject, the strategy states.
The government proposes to set up a National Biotechnology Regulatory Authority to provide an effective clearance mechanism for all biotech products. In medical biotechnology, priority should be accorded to research in molecular and cellular biology, neuroscience, molecular genetics, transplantation biology, genomics, proteomics, system biology and RNA interference.
I can only hope the ethics and regulatory authorities will do for the biotech sector what the TRAI did for the Telecom sector.
