New Delhi-The Union Cabinet chaired by Prime Minister Narendra Modi has approved the MoU between India and Finland for collaborating based on mutual interest in the field of Biotechnology, for funding and implementing ambitious industry-led innovative and transnational projects within the broad scope of research development and innovation.The Mou will support creation of long-term Research, Development & Innovation collaboration mechanism and to establish and strengthen cooperative network between Indian and Finnish organizations.The MoU was signed in accordance with the Agreement between the Government of the Republic of Finland and the Government of the Republic of India on Co-operation in the fields of Science and Technology, signed in Helsinki on March 25th 2008.