On December 16 2021, the Biological Diversity amendment, “the Bill” was introduced in the Lok Sabha, the lower house of the Indian Parliament.
Such amendment aims to encourage the cultivation of medicinal plants in the country, promote further foreign investment across the entire value chain and facilitate the fast-tracking of research, patent applications and the transfer of research results
The Bill appears to offer considerable reliefs over some of the existing burdensome processes, in particular, some key amendments suggested by the Bill concerning Intellectual property rights aim to simplify the approval process from the National Biodiversity Authority for the registration of IPR.
- Publication date
- 4 January 2022