Indian Biotech industry to touch $9 b by 2008

By : |July 29, 2004 0

NEW DELHI: India’s biotechnology sector is expected to grow to $1.45 billion in 2005-06, $ four billion in 2006-07 and more than double that figure – $ nine billion in 2007-08. Of this, exports are likely to stand at about $ four billion.

This was the finding of the India Biotechnology Handbook, which was jointly brought out by BioSpectrum, a CyberMedia publication and Confederation of Indian Industry (CII).

According to the handbook on the Indian biotechnology industry, based on industry inputs, over the next few years, India is slated to become a major center for custom research, and clinical and biological services. It is already the second largest manufacturer of vaccines used by children and these are exported to over 100 countries.

“Although it is at a nascent stage, India has the potential to become very strong in biotechnology. There has been a phenomenal increase in the number of start-up companies in this area in the last five years. While the current size of the industry is $500 million, it is expected to grow at 25-30 percent. India ranks third in Asia in patent filings,” said CII director-general, N Srinivasan.

“Annual investments in the sector are of the order of $150 million and are growing at the rate of 25 per cent. Global market share is projected to rise from two percent to 10 percent in five years,” he added.

The 50-page handbook provides exhaustive information on major companies, research centers, products and people who are making the $500 million (Rs 2,300 crore) Indian Biotech industry tick.

The handbook was circulated widely at the world’s largest biotechnology industry meeting, BIO 2004, held in San Francisco in June. The handbook features India’s leading biotech companies like Biocon, Shantha Biotechnics, Bharat Biotech, Panacea Biotech, Lab Vantage, Avesthagen, Magene and infrastructure providers like Genome Valley, Chandigarh Biotech Park and Kinfra.

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