Future Of BioIndustry

The Indian biotech industry - accounting for only 2 per cent of the global biotech market - has the potential to develop as a key player, generating revenues worth US$ 5 billion. The domestic biotechnology industry is now a US$ 3 billion sector, registering 30 per cent growth in 2007-08 over the previous year. Furthermore, it is estimated that this sector will grow to occupy 140 million square feet by 2010, creating employment for a million by means of its products as well as its services. Significantly, an Ernst and Young survey recognizes India as one of the emerging biotech leaders, ranked third in the Asia-Pacific region based on the number of biotech companies in the country.

The Indian biotechnology sector - with its 'low cost, high value' proposition - has been growing at 35 per cent to 40 per cent annually for the last three years with over 340 companies. The domestic biotechnology industry, with growth rate of 30 per cent in 2007-08 over 2006- 07, has grown to become a US$ 3 billion industry.

Not surprisingly, this sector has been witnessing heightened activity, having already attracted as many as 200 multinationals. Hyderabad, close on the heels of Bangalore, has been at the helm of the country's biotech developments and has been a firm anchor for India's biotech industry, with the Genome Valley Project attracting foreign exchange worth US$ 1.24 billion from pharmaceuticals, biotech chemicals and allied chemicals' companies.

And AG Bioteck believes one thing, which has been its hallmark all through, can help them reap the maximum from the opportunity: EXCELLENCE.