Discuss how the Biodiversity Act, 2002, and the recently notified Biological Diversity (Access and Benefit Sharing) Regulation, 2025, promote access and benefit sharing while ensuring the growth of traditional industries.

Role in promoting Access & Benefit Sharing

1. Mandatory to share benefit with local community.
2. Formation of local committee (BMCs) to decide compensation.
3. Inventarisation of Traditional Knowledge in people's biodiversity Register
4. NBA → ensures that patent are properly approved with benefit to people

(5) SBA → Provide permission of access to foreign firms and Indian firms

Role in growth of traditional

(1) 2025 Regulation → Exempted Ayush and Traditional medicine firms from benefit sharing → priority access to traditional industries (2) Would lower the cost of sharing for traditional industry (3) Provide access to resource at cheap cost (4) Improve competitiveness of traditional firms