Biotechnology

The biotech industry is progressing at a rapid growth rate of nearly 40 per cent, with an annual turnover of US$ 1.07 billion in 2005. It is estimated that the consumption of biotech products in India could grow to the tune of US$ 4270 million by the year 2010. Today, the Indian biotech sector stands fourth in terms of volume and thirteenth in terms of value.

The advantages that India offers in this industry:

• Potential to be a global player.
• Large pool of skilled and cost competitive manpower.
• Well developed and integrated scientific infrastructure.
• Brand value in the knowledge sector.
• Rich biodiversity.
• Globally recognized as a producer of low cost, high quality bulk drugs and formulations.
• 100 % FDI is allowed under the automatic route in this sector.

Source: Ministry of External Affairs: INDIA , Dynamic Business Partner: Investor Friendly Destination