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India, Denmark sign MoU on Bio-technology

New Delhi, October 25, 2004

India and Denmark today signed a Memorandum of Understanding (MoU) to promote development of long term cooperation in the fields of biotechnology between the two countries and to facilitate joint collaboration on specific areas of interests. 

The MoU envisages exchange of scientists, technicians, training of young scientists as well as joint execution of scientific research and development projects. The MoU was signed by the Minister of State for Science and Technology and Ocean Development Kapil Sibal and Danish Minister for Science, Technology and Innovation, Helge Sander.

Speaking on the occasion, Mr. Sibal said that India is poised to make a quantum jump in biotech business from the current level of $500 million to a whopping $9 billion in the next five years. Shri Sibal said that biotechnology holds tremendous promise to solve human problems in the field of food and medicine. “With the population growth taking place at a rate of 1.8% and per capita per acreage production of food crops not showing any sign of improvement, the problem can only be addressed through biotechnology” he said. He called for greater partnerships between public and private institutions to take innovations from laboratories to the market place.

In his address Mr. Sander said that his country is giving tremendous importance to high technology areas including biotechnology. He said Denmark is about to set up a Hi-Tech Foundation for research and development in biotechnology, nano-technology and information technology for which about two billion Euros will be spent in the seven years starting from 2005.

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