Move for100% FDI in biotech

New Delhi, April 20 | Updated: Apr 21 2005, 05:55am hrs
The government has proposed allowing 100% FDI in biotech sector through the automatic route and is also pondering over the possibility of setting up a National Biotechnology Regulatory Authority for effective clearance for all biotech products.

In a written reply in Lok Sabha on Wednesday, minister of state for science and technology Kapil Sibal said the department of biotechnology has suggested to the department of industrial policy and promotion (DIPP) to allow 100% FDI in the biotech sector through the automatic route.

He said in the draft national biotechnology development strategy document, the department has proposed that a competent national biotechnology regulatory authority be established to provide an effective clearance mechanism for all biotech products.

Farm subsidy review: Though there is no proposal with Planning Commission to shift farm subsidies in water, power and fertiliser sectors, there is a need to review some aspects of subsidies that tend to distort cropping patterns and could have damaging effects on natural resources, minister of state for planning MV Rajasekharan said.

Statistical panel: A National Statistical Commission (NSC) will be set up soon to act as the nodal agency for all core statistical activities in the country.

The NSC would serve as the nodal and empowered body for all core statistical activities of the country, statistics and programme implementation minister Oscar Fernandes said.

He said the NSC would identify the areas of core statistics of national importance and evolve national policies and priorities.

PM on Indo-China ties: Observing that Indias relations with China have now acquired a global and strategic character, Prime Minister Manmohan Singh said the two sides have decided to pro-actively resolve their outstanding differences including politically settling the border question while strictly respecting the line of actual control.

Isro pact with pvt industry: The Indian Space Research Organisation (Isro) has entered into an agreement with private industry to set up automatic weather stations.

Minister of state in the PMO Prithviraj Chavan said Antrix Corporation of department of space has entered into an agreement with Astra Microwave Products Ltd for production and installation of automatic weather stations.

Compiled by Vijay K Mahandru and Sangram K Parhi