Odisha Government New Biotechnology Policy: Details, Aim, Significance, Highlights

Odisha Government has recently on 15th November 2018, unveiled 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.

Odisha 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.

Odisha Government with this new policy aims to make the state a top biotech investment destination in India.

Under Biotechnology Policy 2018, the biotech sector will be based on 3 main initiatives- innovation, entrepreneurship, and investment.

For this, Odisha Govt 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.

According to 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% shall be available to reputed anchor tenants.

The new Biotechnology Policy was formalized after a wide range of discussion and inputs from various industries and stakeholders. It will facilitate lucrative incentives for the stakeholders to invest in Odisha.