What are the objectives of the Biodiversity Act, 2002?

The objectives of the Biodiversity Act, 2002 are to conserve biological diversity, ensure the sustainable use of biological resources, and promote fair and equitable sharing of benefits arising from their use. The Act aims to protect India’s rich biodiversity from overexploitation and unauthorized access, especially by external entities. It also seeks to safeguard traditional knowledge associated with biological resources and support local communities who depend on these resources for their livelihoods. Additionally, the Act establishes a structured system of governance to regulate access, encourage conservation practices, and integrate biodiversity management into national development planning.