Marine Bioprospecting in India: Striking a Balance between Environmental Regulations and International Trade

Abstract

The development of biotechnology has been very recent in India. Due to the complexity of regulations it has to comply with area of biotechnology has not grown to its full potential. In this paper the area of marine bio prospecting is discussed in the light of how it has to be shaped so that it brings out a balance between the both environmental regulations and International trade. At present, Biological Diversity Act, 2002 covers the scope of biotechnology trade in India as the Act mandates for Conservation and Sustainable use of Biodiversity. The provisions in the Biological Diversity Act, 2002 is analysed to understand the present situation mainly focusing on how it could regulate marine bio prospecting and what are the gaps that need to be filled to make it more consistent with treaties relating to multilateral environmental agreements and International trade agreement which India is party to.