NBA Releases Rs 534 Million to Maharashtra BMCs Under ABS Rules
The release follows a case where soil microorganisms from the Bacillus genus were accessed by a company to develop probiotic products. With nearly 15 per cent of ABS applications relating to microorganisms, the initiative underscores how ‘micro’ resources can deliver ‘macro’ benefits for farmers, local communities and other stakeholders. The disbursement reinforces NBA’s commitment to ensuring fair and equitable benefit sharing for local communities, who serve as custodians of biodiversity. By strengthening their role in conservation, the initiative aligns with India’s vision of sustainable and inclusive biodiversity management.
This latest allocation adds to the Rs 256 million previously disbursed to 108 BMCs and seven institutions in the state. With the new release, India’s cumulative ABS disbursements have crossed Rs 1.16 billion, highlighting the country’s pioneering efforts in implementing the global ABS mechanism effectively.