Business Daily from THE HINDU group of publications
Monday, Jan 14, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Monday, Jan 14, 2008 ePaper | Mobile/PDA Version |
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Agri-Biz & Commodities
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Interview Industry & Economy - Bio-tech & Genetics States - Kerala ‘BT will overtake IT in market capitalisation’ The McKinsey report states that by 2020, the market capitalisation of only two major BT companies will equal the combined market capitalisation of all the present listed IT companies. G.K. Nair Kochi, Jan. 13 Biotechnology (BT) is an area with tremendous potential for growth in India like the IT sector, says Prof M. Radhakrishna Pillai, Director, Rajiv Gandhi Centre for Biotechnology (RGCB), one of the few nationally reputed establishments under the Central Department of Biotechnology (DBT). Excerpts of an interview: What is the status of biotechnology in India at present vis-a- vis information technology (IT)? Biotechnology (BT) is the new magic word in India, after the highly successful information technology or IT. BT got a late start in India because the earlier corporate attempts by Monsanto and Cargill to usher in biotech in agriculture were stonewalled by farmers’ movements on the apprehension that the companies were attempting to fossilize and hold back the inevitable technology. The current thrust is to apply IT to BT, plant genomes, transgenic crops, food security, crop protection, and induced resistance to plant diseases. The McKinsey report states that by 2020, the market capitalisation of only two major BT companies will equal the combined market capitalisation of all the present listed IT companies. That is real big business indeed! Biotech entry points are in the creation of databases and contract research organisations (CROs). The global trend to outsource R&D to areas of lower-cost capabilities in biotechnology is increasing. How and where could BT contribute significantly to the Indian economy? India could have aggressive and leading roles in production of vaccines, reagents for research and diagnostics, bioactive therapeutic proteins, seeds (hybrids, GM), bio-pesticides, bio-fertilisers, amino acid production, speciality bio-chemicals and plastics. The Indian pharmaceutical market is growing exponentially. Bio-therapeutics and diagnostics of which recombinant Hep B dominate medical biotech segment vaccine is the major product. Others include GCSF, EPO & Interferon Alpha 2b, Human Insulin, Streptokinase, other vaccines cand diagnostics. Production of proteins and antibodies and fabrication of diagnostic protein chips would be a promising area for investment. With the liberal attitude India has adopted towards stem cell research, cell engineering and cell based therapeutics could be another area where India could cash in its expertise. What does the future look like? Because of the rising costs of R&D abroad, companies in the US and Europe are looking for contract research in India. India also offers a suitable population for clinical trials because of its diverse gene pools covering a large number of diseases. The IT skill of Indian manpower also offers services in bioinformatics and data mining. More Stories on : Interview | Bio-tech & Genetics | Kerala
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