The changing context of production of knowledge characterized by the advancements in knowledge in the areas such as molecular biology and biotechnology and information technology and the new institutional context of the IPRs of the WTO, policies of liberalization adopted by the Government of India in the early 1990s, have created new conditions for industry, R&D institutions and the government to come together and create productive alliances to be competitive in the globalizing world. In this context, the practice of science and its products are increasingly getting intertwined with social, economic, political, cultural, legal, ethical, institutional and ideological issues. In other words, the contexts of production of scientific knowledge, mandates, culture, meanings, values, attitudes and interests of scientific organizations seem to be changing. The context lies in the fact that “knowledge” must be transformed into technology and utilized as a vehicle for social and economic development. Scientific knowledge, which was hitherto a public resource, has become an intellectual property (Haribabu 1999). The new context influences the value system, attitudes and social action of the scientists. Thus, the crisis of science in India has both external and internal dimensions with a complex interrelation (Jairath 1984). Recently, the Government of India has come out with the Science and Technology Policy in the year 2003. The main aim of the S&T Policy of 2003 was to encourage research and innovation in areas of relevance for the economy and society, particularly by promoting close and productive interaction between private and public institutions in science and technology. The S&T Policy of 2003 intended to integrate scientific knowledge with insights from other disciplines, and to ensure the fullest involvement of scientists and technologists in national governance so that the spirit and methods of scientific inquiry permeate deeply into all areas of public policy making.