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Odisha government announces new Biotechnology Policy

The Odisha government has announced a new Biotechnology Policy 2018 to attract investments in the sector at the concluding day of the Make in Odisha Conclave, held in its capital city Bhubaneswar. The state government aims to make the state a top biotech investment destination in the country.

Nov 17, 2018 08:31 IST
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The state government of Odisha on November 15, 2018 announced a new Biotechnology Policy 2018 to attract investments in the sector at the concluding day of the Make in Odisha Conclave, held in its capital city Bhubaneswar.

Speaking on the occasion, Odisha's Science and Technology Minister B N Patra said that the government will provide its full support for the development of the biotechnology sector by forming Public Private Partnership, bio-incubation centres and bi-tech finishing schools.

Objective

The state government aims to make the state a top biotech investment destination in the country.

Key Highlights

The development of the biotech sector will be based on three key pillars - innovation, entrepreneurship and investment.

Towards the same, the state government plans to collaborate with various international organisations to provide cutting edge technology in the biotech sector in order to provide innovation and fellowship and grant.

The new Biotechnology Policy was prepared after a wide range of discussion and inputs from various industries and stakeholders.

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.

The policy provides attractive incentives for the stakeholders to invest in Odisha.

Background

Biotechnology is one of the emerging technologies that has excellent potential to grow in Odisha.

In the wake of IT transforming the country and the world, the state government has realised that biotech is another such emerging technology and that the state should take full advantage of it.

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