India needs Rs 30,000 crore investment each year in biotech sector
June 12, 2014: The Indian biotechnology sector requires an investment of around Rs 30,000 crore each year for next five years to provide affordable healthcare with innovative medicines and attain global leadership in R&D. The continued investment is expected to help the sector to reach a valuation of US$ 100 billion by 2025.
The industry is looking at a bio manufacturing infrastructure, investments in R&D, a rational tax structure and a transparent regulatory framework. It is expected that with an annual investment of Rs 24,000-30,000 crore in the next five years the industry will continue to grow to touch US$ 100 billion by 2025, offering a 25 per cent return on investment and a year on year growth rate of 30 per cent.
The industry experts are of a view that the sector, if provide the required support systems, can move forward to attain global leadership in providing affordable healthcare and innovative medicines. The biotechnology sector has contributed in enhancing the global image of India in the last decade and the strong focus on this sector is expected to continue its growth run in the coming years. India is already among the top 12 biotech destinations in the world and is expected to break into the top 10 in the coming few years.
in the coming few years. India has already established its name in the area of vaccines, bio-services and contract manufacturing. The country is expected to garner more accolades in the area of stem cell biology, synthetic biology and agri biotechnology systems in the coming times. Clearly, the Indian biotechnology sector has a huge room for growth but strategic interventions are required to harness the growth potential.