Biotech industry calls for setting up regulatory body

The biotech industry in India needs a regulatory body to give a boost to the booming sector, said Kiran Mazumdar Shaw, CMD, Biocon.

Speaking at the annual BioSpectrum awards event in Bangalore, Shaw said: "The National Biotech Policy will be out by January 2005 and the industry is veering towards a National Biotechnology Regulatory Authority. This will invariably help give a direction to the industry."

Commenting on the Biotech Policy which will be announced next month, M K Bhan, secretary, Department of Biotechnology said: "The policy will outline the direction taken by the government in the field including attracting investment and enforcing regulations. The aim of the policy will be focussed towards full utilisation of the potential of biotechnology for human welfare and economic development. For this, the policy will contain specific proposals and action points, incentives and programmes."

He further noted that in addition to being a policy document, it will give a strategic direction to different sectors to accelerate the pace of development of biotechnology for the next 10 years in the country.

"New models of Centre-state, private-public, R&D-industry partnership, inter-ministerial, inter-institutional/agency co-ordination will be worked on to exploit the potential of the country in this sector," he noted.

Bhan further called for proactive suggestions from the industry to shape this sector of the future and called on all stakeholders "" venture capitalists, entrepreneurs, government bodies "" to play a more active role in outlining the specifics of this landmark policy.

Former secretary, department of biotechnology, Manju Sharma who was conferred the BioSpectrum Lifetime Achievement Award for 2004 for her guidance and support for the growth of the industry, said: "There are two facets to the industry. One is the commercial aspect which one should go after. The other is that we should not ignore the problems of India. Sixty-five per cent of our population is undernourished and we should use technology to address problems like these. India should take care of its problems first and these facets of biotech industry should go hand-in-hand if success has to be realised."