India and Australia will cooperate in the field of Biotechnology. Under the MOU signed by the Department of Biotechnology, government of India, and Department of Education science and Training, government of Australia, an Indo-Australian Biotechnology Fund has been set up. The overall objective of the fund is to develop and support collaborative research activities, which draw upon complementary science and technology strengths in India and Australia.
In the first round, biomedical devices and implants, stem cells, vaccines/medical diagnostics, transgenic crops, nutraceuticals and functional foods, and bioremediation have been identified as priority.