Biotechnology is at the threshold of tremendous growth and India is emerging as an important player in the global sector. The Indian biotechnology sector is limited when compared to the US and Europe, despite spanning several decades. However, India is making considerable investments in the sector through Government initiatives and venture capital funds. Since inception, Government has nurtured the country’s biotechnology sector. However, it is an industry still in its infancy. Currently India is making a considerable investment in both academics and the existing industry infrastructure to accelerate the sector's growth and contributions.
The current consumption of Biotech products in India is ~ over $2000 million, which is expected to grow up to the tune of $4K -$5K million by the end of year 2010. The Indian Bio-Pharma sector accounts roughly for 70% of the bulk Biotechnology sector, the Bio-Industrial, Bio-Services, Bio-Agri and Bio-IT approximately account for 13%, 7%, 6% and 4% respectively. As per my last interaction with a Director at the Department of Biotechnology, Gov. of India, the goal is to push revenue generation in the sector to US $ 5 billion and generate 1 million jobs by 2010. The government is also, promoting the establishment of biotechnology incubation centres within industrial parks. Some are already established like Marine Biotech Park in Chennai, Biotechnology Incubation Centre at Shapoorji Pallonji Biotech Park, Hyderabad, Andhra Pradesh, Biotechnology Park at Lucknow, Uttar Pradesh etc. Such parks are expected to be setup across the country.
Using a broad definition of ‘biotech' - which includes basic industries such as food processing to highly sophisticated ones such as recombinant medical therapies - the sector has >1000 companies. The pharmaceutical and human health industries constitute about 60% of the biotech sector, and continue to grow. Bio-Agriculture is the next largest component followed by Industrial Enzyme manufacturing, Bioinfomatics, and medical devices. Majority of Indian companies are not engaged in basic R&D or drug discovery, rather, they manufacture products for/of others, through the development of differentiated manufacturing processes. Some of the Indian IT companies are looking at leveraging the data mining and data warehousing businesses. The challenge is to convince biotech companies in the United States and Europe that it is safe to transmit their data to India.
Most Indian companies are private and we have witnessed limited IPO activity, of which more is expected in the coming years.
With a liberal industrial policy coupled with the large pool of scientific talent, world class IT industry, a vibrant Pharmaceutical sector, good growth in Agricultural sector, Foreign investments, increasing Biotech companies, expanding Biotech markets, extensive Clinical Researches, strong Bio-processing skills, the product patent regime and Government support both at the Central and the State levels, India is viewed as a potential location for manufacturing activities and high-level biotechnology research programs.
The current consumption of Biotech products in India is ~ over $2000 million, which is expected to grow up to the tune of $4K -$5K million by the end of year 2010. The Indian Bio-Pharma sector accounts roughly for 70% of the bulk Biotechnology sector, the Bio-Industrial, Bio-Services, Bio-Agri and Bio-IT approximately account for 13%, 7%, 6% and 4% respectively. As per my last interaction with a Director at the Department of Biotechnology, Gov. of India, the goal is to push revenue generation in the sector to US $ 5 billion and generate 1 million jobs by 2010. The government is also, promoting the establishment of biotechnology incubation centres within industrial parks. Some are already established like Marine Biotech Park in Chennai, Biotechnology Incubation Centre at Shapoorji Pallonji Biotech Park, Hyderabad, Andhra Pradesh, Biotechnology Park at Lucknow, Uttar Pradesh etc. Such parks are expected to be setup across the country.
Using a broad definition of ‘biotech' - which includes basic industries such as food processing to highly sophisticated ones such as recombinant medical therapies - the sector has >1000 companies. The pharmaceutical and human health industries constitute about 60% of the biotech sector, and continue to grow. Bio-Agriculture is the next largest component followed by Industrial Enzyme manufacturing, Bioinfomatics, and medical devices. Majority of Indian companies are not engaged in basic R&D or drug discovery, rather, they manufacture products for/of others, through the development of differentiated manufacturing processes. Some of the Indian IT companies are looking at leveraging the data mining and data warehousing businesses. The challenge is to convince biotech companies in the United States and Europe that it is safe to transmit their data to India.
Most Indian companies are private and we have witnessed limited IPO activity, of which more is expected in the coming years.
With a liberal industrial policy coupled with the large pool of scientific talent, world class IT industry, a vibrant Pharmaceutical sector, good growth in Agricultural sector, Foreign investments, increasing Biotech companies, expanding Biotech markets, extensive Clinical Researches, strong Bio-processing skills, the product patent regime and Government support both at the Central and the State levels, India is viewed as a potential location for manufacturing activities and high-level biotechnology research programs.
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