The Hindu Business Line : `Biotech industry set for rapid growth in India'

THE tremendous potential India holds in the area of biotechnology given the knowledge base, skilled manpower and market-size offers extraordinary opportunities to stakeholders for growth, sourcing, partnering and investment, Dr M.K. Bhan, Secretary, Department of Biotechnology, Government of India, said speaking at the BIO 2004 annual convention here.

Describing India as a knowledge powerhouse, the official, leading a Confederation of India Industry delegation of about 50 persons to the world's largest biotechnology show, expressed optimism that Indian biotech industry would grow to $9 billion by 2007-08. The market, reckoned at $500 million for 2003-04, is expected to grow rapidly at 25-30 per cent in the coming years.

Over 200 companies are engaged in biotech where investments are seen rising by over 25 per cent and manpower by a whopping 70 per cent. Making a strong pitch for overseas companies to invest in India and source from India, Dr Bhan pointed out that when $25 billion worth of biological products go off patent next year, India would immensely benefit because of the inherent strength of companies in the country in the field of biogenerics. Several companies such as Shantha Biotech, Bharat Biotech, Panacea Biotech and Serum Institute of India were pinning their hopes on the vast export potential offered by biogenerics. The competitiveness of Indian products in terms of both quality and price had never been in doubt. India's first genetically engineered vaccine costs less than half the price of competing vaccines, he said. Several companies and research institutions are now partnering with and sourcing from India, one of them being the Clinton Foundation for HIV kits. Bio-agriculture and bio-industrials are other areas that offer immense investment and market potential.

The three-day BIO 2004 convention and exhibition has attracted over 15,000 delegates from across the world, with significant participation from the pharmaceutical sector. At the exhibition, the Indian pavilion comprised seven stalls, of which three represented the Governments of Andhra Pradesh (Genome Valley), Tamil Nadu (TICEL Bio Park) and Karnataka. Among the private sector exhibitors were Biocon, India's largest producer and exporter of enzymes.

It was somewhat disappointing to see a very modest Indian participation at the most important event of the biotechnology industry. One estimate placed total Indian participation at about 100, or at best 150, that is less than one per cent of the total number of delegates. Interestingly, this number (100 participants) was seen encouraging as compared with previous years when participation was said to be even minuscule. There obviously is a need to be more aggressive in marketing the opportunities the country is said to provide.