| Biotechnology
is defined as a set of techniques for industrial
exploitation of biological systems or processes.
It encompasses any technique that uses living
organisms to make or modify products, to improve
plants or animals or to develop microorganisms
for specific uses and involves applying molecular
and cellular biology, plant, animal and human
genetics and immunology in order to create new
products. Conventional techniques of producing
biotechnology products, using traditional microbiological
fermentation, have evolved, with the development
of modern technologies. Modern biotechnology entails
use of cell fusion techniques, bio-informatics
(use of information technology for documenting
bio-diversity and study DNA structures), genetic
engineering, structure based molecular design
and recombinant DNA technology (insertion of foreign
gene) and hybridoma technology (fusing and multiplying
cells). Biotechnology has transformed many parts
of the chemical industry, agriculture, and medicine.
After
becoming an IT bellwether, India is now shifting
its focus to the next promising industry, biotechnology.
Numerous companies have sprung up to take a piece
of the exponentially growing biotech market. The
ever-decreasing physical boundaries enable biotech
companies to tap large markets around the world.
India to this extent holds a good advantage over
other countries.
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| India,
today, holds a small share of the global biotech
market, but has all the capabilities to become
a dominant player. The consumption of biotech
products in India is expected to quadruple in
the next decade. The human and animal segment
of the industry alone is growing by at least 20%.
- India is among the top 12 biotech market globally
- India ranks third in Asia-Pacific after Japan and Korea
- The contribution of India biotech industries to the global biotech industries is 2%
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Low Cost of Operation :
An R&D costs in India is significantly lower, Outsourcing to India can save upto USD 200 million (Rs. 800 million). Cost of clinical trials is 50% lower in phase-I and 60% lower in phase-II compared to global market. Clinical trials take significant lesser time in India.
Large Pool of Talented Human Resources :
India has largest pool of science student pursuing higher education. There are about 5000 PhDs and 1000 post-doctorial in biosciences related field.
Favorable IP conditions :
Adherence to the TRIPS agreement with the regards to Patient Protection Act implemented in 2005 has increased the confidence of innovator companies of India.
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