Preamble.- An Act 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 matters connected therewith or incidental thereto. WHEREAS India is rich in biological diversity and associated traditional and contemporary knowledge system relating thereto. AND WHEREAS India is a party to the United Nations Convention on Biological Diversity signed at Rio de Janeiro on the 5th day of June, 1992; AND WHEREAS the said Convention came into force on the 29th December, 1993; AND WHEREAS the said Convention reaffirms the sovereign rights of the States over their biological resources; AND WHEREAS the said Convention has the main objective of conservation of biological diversity, sustainable use of its components and fair and equitable sharing of the benefits arising out of utilization of genetic resources; AND WHEREAS it is considered necessary to provide for conservation, sustainable utilization and equitable sharing of the benefits arising out of utilization of genetic resources and also to give effect to the said Convention. BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:– No. 18 OF 2003 5th February, 2003 | 
