31 December 2015
HAPPY NEW YEAR GREETINGS FOR 2016
Modi Govt. Unveiled National Biotechnology Development Strategy 2015-2020 with the objective of achieving $100 billion by 2025. Thepresent industry size is $7 billion.
150 technology transfer organizations will come up in India as a part indigenous technology development mission.
The sector has seen high growth with a CAGR in excess of 20% and the key drivers for growth in the biotech sector are increasing investments, outsourcing activities, exports and the government’s focus on the sector.
A strong pool of scientists and engineers.
Cost-effective manufacturing capabilities.
The setting up of national research laboratories, centres of academic excellence in biosciences, several medical colleges, educational and training institutes offering degrees and diplomas in biotechnology, bio-informatics and biological sciences.
For global companies looking to economise, outsourcing to lower cost economies results in a cost arbitrage of more than 50%.
Fast-developing clinical capabilities with the country becoming a popular destination for clinical trials, contract research and manufacturing activities.