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Rich and varied biodiversity, accompanied by an extensive traditional and contemporary knowledge system makes India one of the most diverse nations in the world in this regard.
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Rich and varied biodiversity, accompanied by an extensive
traditional and contemporary knowledge system makes India one of
the most diverse nations in the world in this regard. In
recognition of this the Biological Diversity Act 2002, which
implements the objectives of the UN Convention on Biological
Diversity 1992, came into force on February 5 2003 with the purpose
of conserving India's biological diversity and promoting the
sustainable use of its components, as well as fair and equitable
sharing of the benefits arising from the use of biological
resources and knowledge. The act facilitates the sharing of
benefits arising from the commercialisation of an IP right with
local communities where this is based on a biological resource
obtained from India.
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