The biotech industry in India has grown three fold over the last five years to reach US$ 4 billion in fiscal year 2013. The sector is expected to become worth US$ 7 billion by the end of fiscal year 2015. With advantages like cost effectiveness and research & development (R&D) expertise, the Indian market is globally recognised as the preferred destination for biotech manufacturing and undertaking complex research programmes. Divided into five broad segments – biopharmaceuticals, bioservices, bioagriculture, bioindustry and bioinformatics – the Indian industry has been growing at an average rate of 20 per cent annually.
Increasing investments, global collaborations and exports are key factors driving growth in the sector. The huge growth potential and India’s competence makes it a strong contender to lead the global biotech movement.
In 2012 Association of Biotech Led Enterprises (ABLE), an industry body for Indian biotech sector had drawn a plan to make biotech a US$ 100 billion industry by 2025. Given the present trends and the promising potential, the future years should certainly be expected to bear out this projection.