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Biodiversity is one of the unique features of the earth. It not only provides ecological stability to the universe but also guarantees life support functions to millions of people in the form of air, water, and food/nutrition. In addition, biological resources of different sectors or ecosystems such as: agriculture (food grains, fruits, flowers etc.), forests (wild fruits, wild vegetables, medicinal plants, timber, honey, mushroom etc.) and aquatic and marine (fish, crabs, bivalves, sea grass, sea weeds, etc.) along with the associated TK, are the base for manufacturing different consumer products which enhance human wellbeing.
However, globally, biodiversity and biological resources are unequally distributed. But, people need these resources and resource-based products, irrespective of where they live. Hence, in the biological resources sector, trade plays a significant role from time immemorial. One can easily realize the fact that, the rich biological resources (especially the spices, medicinal plants and aromatic plants) which existed in South Asian countries, including India, are the prominent reasons behind colonialism. Even now biological resources and related products are the major goods involved in regional, national and international trade.