The Hindu Business Line : `Biotech industry needs to address regulation, funding issues'

INDIA has opportunities in the area of biotechnology but needs to address issues pertaining to regulations, venture capital funding and improvement of skill set of employees, Exim Bank said in a study.

In its study titled `Biotechnology: Emerging opportunities for India', Exim Bank said that India is already demonstrating its prowess in generics, clinical research and trials, bioprocessing, bio-informatics and stem cell research.

"However, issues such as regulation of the biotechnology industry, provision of sufficient venture capital funding, and improvement in the skill set of trained manpower need to be addressed to ride advantageously the biotechnology wave,'' it said.

Indian biotechnology industry with total revenue of $ 0.72 billion in 2003-04 is estimated to have less than one per cent of global biotechnology revenues. India, with 160 active firms, ranks eighth in the world. The US leads the list with 1,500 biotechnology companies.

According to Exim Bank, some of the areas of competence of the Indian biotechnology industry are capacity in sterile fermentation process, skills in handling microbes and animal cells, skills in extraction of plant and animal products, competence in plant and animal breeding and creation of infrastructure in bioreactors and processing equipment.

"The potential of Indian biotechnology sector could be fully reaped through concerted and sustained efforts. Exim Bank has identified the biotechnology sector as one of the thrust sectors a decade ago,'' the study said.

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