|
|
India's Biotechnology industry is surging forward to new frontiers of progress. Its vast reservoir of scientific human resource complements the web of premier academic and research institutions devoted to the Biosciences. This, together with the vibrant pharmaceutical industry and burgeoning clinical capabilities assures India's future at the forefront of Biotechnology worldwide.
There already exist over 160 Biotech companies in India with a combined revenue of $150 million. Diverse domains of Biotechnology from industrial enzymes and diagnostics to Bio-therapeutics like recombinant vaccines and human insulin are encompassed within the broad spectrum of these companies. They also collectively proffer a plethora of products and services based on Agri-Biotech, Bioinstrumentation, Bioengineering and Bioinformatics.
Evolving paradigms in Indian regulatory and legal frameworks constantly address issues of safety and ethics relevant to Biotechnology. A farsighted patent regime conforming to TRIPS and WTO guidelines will take effect from 2005 to safeguard IPR. Moreover, special fiscal incentives, VC funding and innovative incubation models combine with all the above to provide the momentum that is propelling the Indian Biotechnology industry into a brilliant growth curve.
|
|
