Gujarat Govt Plans Fund For Biotech

The Gujarat government has proposed to set up a venture capital fund to attract clinical research and contract research projects in the state.

This was stated by Narendra Modi, chief minister of Gujarat, while addressing a meet on bioinformatics and contract research at the Biotech India 2003, organised by the Confederation of Indian Industry, and being held concurrently with the International Engineering and Technology Fair (IETF) 2003.

Modi said Gujarat was best-placed to capture a large part of the growing bioinformatics and contract research markets. He also invited biotech entrepreneurs to Gujarat.

Modi also asked industry to strive to make India a global bioinformatics hub. The bioinformatics market had grown to $10 billion, he said.