India's biotechnology sector is set to become a $10 billion industry by 2015, CMD of Biocon Ltd, Kiran Mazumdar-Shaw said on Tuesday. She expects the industry to grow to $5 billion by next year. In 2008-09 it was $2.51 billion.
"India's biotechnology industry is at an inflexion point, and has attained a critical mass, Mazumdar-Shaw said. It now has a platform from where it can leapfrog and deliver exponential growth, she said. India is also becoming the vaccine capital.
India is today becoming the vaccine capital. Bio-manufacturing offers a huge potential and there are indications many global contract manufacturers announced they will be shifting their base from Europe to Asia. I think India will be a beneficiary of that strategy," Kiran added.
Clinical trials, agri-biotech and bio-fuels are becoming opportunities. There are a lot of growth drivers and trigger points which, she said, will deliver in the next five years.
Department of IT, bio-technology and science and technology, Karnataka, Vision Group on Biotechnology on Tuesday announced the 10th edition of Bangalore Bio, rechristened Bangalore India Bio is scheduled to be held from June 2 to June 4 in Bangalore.
But, as the sector aims to grow rapidly, it may hit hurdles like poor human resources. The industry finds it difficult to get industry-ready graduates.
Hence, Karnataka has decided to select 10 institutions with the infrastructure to have finishing schools with focus on specialised skill development to make graduates in biotechnology industry-ready. A sum of Rs 10 crore has been allocated to support the finishing schools, according to industry sources.
Co-chairman of the high-power genetic engineering approvals committee Arjula R Reddy had earlier said that China had taken a major step forward in producing Bt rice varieties by becoming the first country to give the bio-safety approval for the development of Bt rice varieties.
Reddy, a geneticist, had said that in a year or two China would be ready with disease-and-insect-resistant Bt varieties of rice which would considerably help reduce the cost of cultivation and also increase productivity.
