Ratification of the Nagoya Protocol on Access and Benefit Sharing
The Union Cabinet approved the ratification of the Nagoya Protocol on Access and Benefit Sharing (ABS) by India on October 4, 2012. Following which India hosted the eleventh Conference of the Parties (COP-11) from October 17 to 19, 2012 at Hyderabad.
This step comes in wake of India having fallen victim to misappropriation and biopiracy of its genetic resources and associated traditional knowledge, where other countries have repeatedly tried to acquire patent rights over them. Some well known examples include Neem, Basmati Rice and Turmeric.