Sustainable Development by Encouraging Foreign Direct Investment in the Developing Economy to Protect the Biodiversity

Abstract

Indian philosophy is the ray to the world for its transformation. Our great father of the nation who taught the lesson of peace and non violence and the power of civil disobedience to the whole world was certainly not his own idea but he learnt it from the various Hindu scriptures. Indian Philosophy also taught the concept of “Universe is one family”. If we want to bring change in the world then we should first change ourselves, our economic policies, and our social structure and transform the traditional knowledge to bring innovations. The equitable benefit sharing for the research done on the biodiversity includes the FDI but it is not compulsory for the foreign investor to always agree for FDI. It has other option to give benefit to the government. However, the question here is when our biodiversity and traditional knowledge of our indigenous people are being used for research, then why should we be in a compromising position. We have adopted the critical method to pen down the various issues and challenges with regards to biodiversity and FDI. This article gives you insight to readers and the environmental thinkers to appreciate the new thought to make transformation more sustainable.

Keywords: Biodiversity, Foreign Direct Investment, Benefit sharing, Traditional Knowledge, Value addition