What is bio-piracy? State the initiative taken by the Indian Parliament against it

Explanation

**Step-by-Step Text Solution:**

1. **Definition of Bio-piracy:**
Bio-piracy refers to the unauthorized use and exploitation of biological resources, particularly genetic materials, from a country or community without proper permission or compensation. This often involves taking indigenous knowledge or resources and patenting them for commercial gain, without acknowledging or compensating the original source.

2. **Components of Bio-piracy:**
- **Biological Resources:** This includes plants, animals, and microorganisms.
- **Commercial Exploitation:** Using these resources for profit without consent from the source country or community.
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