Right policies, technology vital for development: Biocon chief

India is a developing nation but the reason it is still counted among poor countries is because it does not have the right policies, Biocon chief Kiran Mazumdar Shaw said Saturday.

Shaw was speaking at the third convocation and fifth annual lecture of the NIIT University at its Neemrana (Rajasthan) campus.

She commented also that the nation lacked resources and investment in the right things on the part of the government. The proper use of technology, and right implementation of effective policy can go a long way in ensuring development, she said.

"Despite the food security bill's implementation, the poor in India are starving, just because of lack of technology to cater to the food requirement of the people," Shaw said.

She said the government must allow genetically modified crops, as the country cannot otherwise be self-sufficient in food.

She asserted that it was possible to reduce the use of pesticides if technology was put to greater use in growing crops.

Farmers, with the use of technology, could become prosperous, Shaw said, adding that there was need to ensure that when investment is made, the outcome is productive.

"The need of the era is to use developing engineering technology to cater to the need of the people, and not just give them hope of food sufficiency by promising a food security bill and the other bills", Shaw said.