* With a total population of 1.3 billion, 50% being under the age of 25, India has a large pool of young and skilled workforce.
* India has a large reservoir of scientific human resources including scientists and engineers.
* 9 DBT-supported biotech parks and 60 BIRAC-supported bio-incubators.
* In the Union Budget 2023-24, the Department of Biotechnology (DBT) was allotted US$ 162.7 million (Rs. 1,345 crore) to promote research and development.
* 100% under automatic route for greenfield projects for pharmaceuticals.
* While 74% is permitted under automatic route for brownfield projects, 100% under government route is permitted for brownfield investments.
* 100% under automatic route is allowed for the manufacturing of medical devices.
* Patient pool expected to increase over 20% in the next 10 years, mainly due to rise in population.
* New diseases & lifestyle changes to boost demand for drugs and devices.
The Indian biotechnology sector is expected to clock US$ 10 billion in revenue by 2015 on the back of emerging opportunities from around the world.
Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nuremberg, ...
Union Minister of Commerce and Industry, Consumer Affairs, Food and Public ...
The Electric Vehicle (EV) market in India is quickly evolving into a comple...
The Sky’s the Limit: India's Growing Aviation Industry India is t...