The Indian biotech industry is geared to give the scientific minded youth of India tremendous growth opportunity in the coming years, At. 27.42 percent growth for 2005-2006 and revenues crossing $1.45 billion (Rs. 6521 crore), this sector is steadily coming into its own.
Crossing the one-billion dollar mark in 2005 was a major milestone and industry experts content that with the government and prominent private players now actively working for the sector, there is bound to be rapid development. With the new product patent regime in place and a national biotech policy set to be notified soon, the Indian biotech industry is set to touch $5 billion (Rs 22.235 crore) in revenue by 2010 says the Confederation of Indian industries.
In terms of jobs, the biotech industry will create at least 50,000 jobs over the next few years with the main players operating out of Tamilnadu, Maharastra and Andhra Pradesh states that are setting up biotech enterprise zones or biotech parks.


Heighlights:

8% is the Annual growth rate for Industry.
50,000 Jobs are likely to be created over the next few years.