Economics and Policy Implications of National Biodiversity Legislation

This paper examines the critical issues involved in operationalising the National Biodiversity Legislation in India. It discusses the structure of 'prior informed approval' envisaged in the legislation, and examines the provisions on the protection of traditional knowledge and suggests measures to enhance it. The paper also highlights the significance of the decision-making process relating to bioprospecting contracts, including balancing concerns for conservation with bioprospecting.