Tweak in biodiversity norms to boost ayurvedic medicine

National Biodiversity Authority to balance economic growth with conservation.

- 

India is overhauling regulations under the Biological Diversity Act, 2002, to give its ayurvedic medicine, pharmaceutical and wellness sectors a major boost, and making it easier for companies to access natural resources while safeguarding the country's rich biodiversity.

The reforms simplify approval processes, waive access and benefit sharing fees for startups and small businesses with turnover below ₹5 crore, and drastically cut the time required for research, applications and product clearances.