Bio Tech Talk
Indian biotech sector is yet to unleash its true potential
From a lesser known company to an established player, the BioHouse Solutions has slowly transformed itself to come off as not just a technology and bio-chemicals distributor but a manufacturer too. In an exclusive interaction with BioVoice, Mr Rupinder Singh, Chief Executive Officer, BioHouse Solutions gave details about the company’ s progress and plans besides an overview of the industry’ s growth in last one decade. Read the excerpts below:
BY RAHUL KOUL
Mr Rupinder Singh, CEO, BioHouse Solutions
Q: How do you look at the Indian biotech and biosupplier industry scenario in last one decade?
My understanding about the whole biotech story in last one decade is that we started with great promises but were unable to retain the steam. While the recent statistics on industry point out towards 7-9 percent CAGR growth which may be a feel good factor but we need to be asking whether that is enough?
We have achieved few milestones but we could have done much better. I feel that we as a nation with huge human resources, have not done worthwhile in this sector. There are many areas such as nutraceuticals, agriculture where biotech has huge role to play. I feel the Indian biotech it yet to unleash its true enormous potential.
Government and industry both must be increasingly participatory in their roles. Our personal survey is that 70 percent of biotech wealth in India is held by few top companies. It should percolate down. The mid-sized companies and new startups must expand. That needs a sustained policy encouragement.
40 BioVoiceNews | February 2017