Thursday, December 31, 2015

Make in India - Biotechnology - $20 Trillion Economy Opportunity

31 December 2015


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.

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