New Delhi, Nov 07: United States today said it recognises biotechnology to be a crucial future area for collaborative research with India, which would go a long way in tapping the US $330 billion global biotech market. "Biotechnology is an important area of cooperation with India in the 21st century," under secretary of state for economic affairs Alan Larson said at the launch of US-India biotech alliance.
Collaborative research in bio-technology would ensure a sustainable development, he said and added the alliance would provide a platform for coordination between US and Indian companies. US ambassador to India Robert D Blackwill termed the alliance to be a "perfect example of tie up between Indian brain power and US entrepreneurial skills".
Confederation of Indian industry and US-India business council along with us-based biotechnology industry organisation and pharmaceutical research and manufacturers of America launched the alliance.
"Indian laws relating to intellectual property rights are in full continuity with trips provisions," additional secretary in the Prime Minister's office Prodipto Ghose said. The alliance on biotech is a complete manifestation of Indo-US economic dialogue down-the-line, he added. Bureau Report