You are here: Home » Economy & Policy » News
Business Standard

Indian biotech sector to touch $5 bn by 2009-10

Press Trust Of India  |  New Delhi 

Driven by the increasing number of biotech firms in India, the biotechnology sector is likely to grow over three times to touch $5 billion by 2009-10, according to industry body Assocham.
"The domestic biotecnology sector, which was at $1.5 billion during 2005-06, is expected to reach $5 billion by 2009-10 with a consecutive year-on-year growth rate of 35.1 per cent," the chamber's paper on "Biotechnology Future" stated.
India has more than 300 bio-tech firms focusing on different aspects of value chain and their number is going to more than double in next 3-4 years, it said.
Bio pharma, the largest segment of bio-tech industry grew by 32 per cent in 2005-06 to reach $1 billion.
Exports, which accounted for 52 per cent of the industry's total revenue, stood at $763 million. While, Bio pharma accounted for 75 per cent of the total exports and 70 per cent of domestic sales.
According to the study, agri bio-tech and bio services are registering fastest growth. Investments in the sector have crossed $360 million in 2005-06, growing 36 per cent over the previous year.
Vaccines and bio-generics are the common areas of interest among leading bio-tech companies such as Bharat Biotech, Biocon, Dr Reddy's Lab, Panacea Biotech, Serum Institute, Shanta Biotech, Workhardt and Zydus, it said.
The sector would also attract funds from international agencies like World Bank, International Finance Corporation, ventures capitals, private equity arm and other financial institutes.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, May 07 2007. 00:00 IST
RECOMMENDED FOR YOU
.