|
Biotech needs Centre’s fiscal dose: Kiran Shaw
Bangalore
Urging Indian biotechnology sector to work towards becoming a $5 billion business
by 2010, Biocon CMD Kiran Mazumdar Shaw said that the country should offer strong
biotech products in the global market.
|
The government should also
provide an enabling regulatory environment
to allow co-development
of drugs in an unhindered way
|
Addressing the inaugural session of the fifth edition of Bangalore’s
biotechnology event Bangalore Bio 2005, Shaw said that the government should
bring in infrastructural and fiscal support to help the sector grow its full
potential. In view of growing global interest in India’s research capabilities,
a Bill for promoting clinical research organisations in the country is vital,
she said.
The government should also provide an enabling regulatory
environment to allow co-development of drugs in an unhindered way. The two tasks
forces formed for streamlining the growth of agri and pharma biotcehnlogy sectors,
have already formed two separate regulatory frameworks for the sectors.
These frameworks will be implemented shortly. The $2.5 billion Indian biotech
sector has 265 active companies in this field, with 131 of them based in Karnataka.
Bangalore houses 127 biotech companies. Karnataka is leading in terms of number
of new biotech companies being established in India. While 46 new companies
set shop in India during 2004-05, Karnataka alone had 21 of them.
The biotech sector had a total project investment of $325 million between 1990
and 2004, of which $190 million - including $150 million by Biocon itself -
were made during the past 12 months.
The sector employed over 20,000 professionals, of which 33 per cent are graduates,
30 per cent are post graduates, 18 per cent are PhD holders and 15% are MBA
or engineering graduates, she said. The Indian biotechnology sector has 35%
agri biotech, 13% bioinformatics and 30% supply sector and 14% outsourced segment
palyers. The Indian biotech sector is becoming more active with global partnerships
and initiatives taking off here.
Karnataka chief minister N Dharam Singh said that the government
was in the process of setting up the biotech park. About 100 acres of land has
been acquired for this pupose, he said. The Union government has sanctioned
Rs 14.45 crore for the project, he said.
— Financial Express
|
