Sops for biotech units on the cards in Rajasthan

The Rajasthan government is going all out to attract the biotechnology industry to invest in the state.

On the anvil is a comprehensive biotechnology policy, which is expected to offer concessional land and hefty stamp duty cuts.

State government sources said industries with annual turnover of over Rs 100 crore would be offered land at 60 per cent concession on the reserve price. The units would also be allowed to acquire agricultural land.

The state government had also decided to increase the corpus of the venture capital fund it had set up for for encouraging the biotechnology sector.

The government was likely to provide an additional Rs 50 crore for improving the infrastructure in the state, the sources said.

The policy would aim at cashing in on the boom in the bio-technology area, the sources said, adding that the state has already decided to set up a high-powered biotechnology advisory board.

The state's apex industrial development organisation, the Rajasthan State Industrial Development & Investment Corporation (RIICO), is also developing three biotech parks.

The state government has also formalised a plan for setting up a 36-member Rajasthan state science and technology council headed by Chief Minister Vasundhara Raje.

All secretaries associated with the science and technology ministries, non conventional energy departments and the director general of Indian agricultural research council will be ex-officio members of this council.

The chief secretary will head a 16-member executive committee for the day to day functioning of the council. The Rajasthan government's initiatives follow the huge strides made by states like Andhra Pradesh and Karnataka in biotechnology.

These states are extending various incentives, including entry tax exemption, 50 per cent concession on stamp duty and registration.