Bangalore unveils new BT policy
In effort to make Karnataka Biotechnology Capital of Asia, the State government , on Wednesday, launched ‘Millennium Biotech policy II’ a successor to Biotech Policy issued of 2001.
Releasing the policy, Principal Secretary IT, BT S&T Ashok Kumar Manoli said the new policy will provide all fiscal incentives and concessions under Karnataka Industry policy 2009-14 to bio technology industry and the R&D centres.
Biotech organisations will get incentives including a subsidy of 50 per cent for setting up effluent treatment plants. The financial incentives includes assistance for patent tracking and patent registration.
According to the new policy biotech will be treated as special industrial consumers and provided with dedicated power lines that are exempt from power cuts. It also assures power connection to biotech companies within 10 days of applications. Bioinforamtics companies that use up to 50 KVA power will be permitted to be established without any local restrict...