In view of the rich biological diversity in India, The Biological Diversity Act, 2002 has been enacted to provide for conservation of biological diversity, sustainable use of its components and fair and equitable sharing of the benefits arising out of the use of biological resources, knowledge and for connected and incidental matters. India is a party to the United Nations Convention on Biological Diversity signed at Rio de Janeiro on the 5th day of June, 1992. In exercise of the powers conferred by section 62 of the Biological Diversity Act, 2002, the Central Government has formulated the Biological Diversity Rules, 2003.
