Odisha government Thursday announced a new Biotechnology Policy 2018 to attract investments in the sector at the concluding day of the Make in Odisha Conclave here.
Announcing the new policy, Odisha's Science and Technology Minister B N Patra said "We will will provide our full support for the development of this sector by forming Public Private Partnership, bio-incubation centres and bi-tech finishing schools."
The development of the biotech sector in Odisha will be based on three key pillars - innovation, entrepreneurship and investment, the minister said.
"We will collaborate with various international organisations to provide cutting edge technology in the bio-tech sector in order to provide innovation, fellowship, grant, etc," Patra said adding that the the policy was prepared after a wide range of discussion and inputs from various industries and stake holders.
As per the policy, all biotechnology units shall be allotted land at a concessional rate as per the Industrial Policy Resolution of the state government. An additional subsidy of 25 per cent shall be available to reputed anchor tenants.
Stating that the bio-technology policy 2018 provides attractive incentives for the stake holders to invest in Odisha, Patra said: "We assure investors full support of the state government for the whole life cycle of the project by collaborative efforts between Government of Odisha and private stake holders.
The minister said our aim is to make Odisha a top top biotech investment destination in the country.
Chief Secretary A P Padhi said that bio-technology is one of the emerging technologies that has excellent potential to grow in Odisha.
"We have seen how IT has transformed the country and the world, bio-tech is another such emerging technology and we in Odisha should take full advantage of this sector," Padhi said.
Prof G Padmanabhan, Senior Science and Innovation Advisor, Biotechnology Industry Research Assistance Council (BIRAC) spoke on six significant steps that the state government should adopt to make Odisha a biotechnology hub in India and abroad.
Dr Krishna Ella, founder of Bharat Biotech said that Odishas Biotech policy is "best in the country".
He expressed his intention of investing Rs 500 crore in biotechnology park in Bhubaneswar.
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