Abstract

Biodiversity is the biological capital of the planet Earth and forms the foundation upon which the human civilization is built. The success of a nation depends upon the capability of her people to convert the biodiversity and other natural resources into wealth in an ecologically sound and economically rewarding and sustainable manner with the intervention of science and technology. The intrinsic potential of biodiversity as a key resource for developing novel value added products for food, medicine, cosmetics and other natural products of commercial importance have now been increasingly realized. The unknown potential of genetic diversity found in the biological organisms represents a never-ending biological frontier of intrinsic value. Genetic diversity will enable breeders to tailor crops to meet the ever-changing demands or needs and aspirations of humans as well as enabling to adapt to the changing climatic or other environmental conditions. The genetic resources are primarily used as source of valuable genes, chemicals, drugs, pharmaceuticals, natural dye, gum, resins, enzymes and proteins of great industrial value. Knowledge based, value added product development and its commercialization has become one of the fastest economic activities in the world. The liberalization of the global trade practice and other economic reforms evolving currently with the emergence of the United Nations Convention on Biological Diversity (UN-CBD) and the World Trade Organization (WTO) requires a deeper study and understanding, especially in the light of the latest path breaking achievements in science and technology particularly in areas like Information Technology (IT), Biotechnology (BT), Herbal technology (HT), and Nano-biotechnology (NBT). According to Mashellar) “twenty first century will be the century of knowledge” and “a nations ability to convert knowledge into wealth and social good through the process of innovation will determine its future”. A new thinking centered on the concept of ‘knowledge engineering’ for building future ‘knowledge industries’ is now getting greater attention and acceptance in the world over. Conversion of biodiversity and the associated traditional knowledge system (TKS) into value added globally competitive commercial products with appropriate safeguards for Intellectual Property Rights (IPR) protection are some of the key strategies for achieving economic prosperity and well being for the people of nations like India.

Keywords: Biodiversity; Traditional medicine; Bioprospecting; Pharmaceuticals; Intellectual Property Rights