cover story
Biotechnology expected to pick
its pace again!
A good beginning always helps in sealing a strong foundation but the time has
come when India has to realize the true potential of its resources and take
the sector to its threshold of excellence
R
BY RAHUL KOUL (INPUTS FROM SAYONI RAUTELA)
ecently Prime Minister Mr Narendra Modi
unveiled the "Make in India" campaign, with an
aim to turn the country into a global
manufacturing hub. Biotechnology Sector is one of the
sectors which has identified by government among 25
sectors that will be covered under the Make In India
plan. The Make in India campaign aims at turning the
country into a global manufacturing hub by
smoothening business processes and attracting foreign
companies to set up factories in India and invest in the
country's infrastructure.
According to a Special Report prepared by the Association
of Biotechnology-Led Enterprises (ABLE), the India’s
fast-growing BioEconomy has crossed the $35.1 billion in
2015. The report was released on the inaugural day of the
16
BioVoiceNews | June 2016
BIO International Conference at Moscone Convention
Center in San Francisco on June 7. The Indian
biotechnology sector is divided into five major segments;
bio-pharma, bio-services, bio-agri, bio-industrial and bioinformatics. The biopharmaceutical sector accounts for
the largest share of the biotech industry with a share of
64% in total revenues in 2015, followed by bio-services
(18%), bioagri (14%), bio-industrial (3%) and bioinformatics (1%).
The sector has seen high growth with a CAGR in excess of
20 percent and the key drivers for growth in the biotech
sector are increasing investments, outsourcing activities,
exports and the government's focus on the sector. The
Department of Biotechnology has established biotech
parks in various parts of the country to facilitate product