The Hindu Business Line : Biotech sector on Swiss, OECD investment radar

According to the Swiss Organisation for Facilitating Investments (SOFI), an initiative of the Swiss State Secretariat for Economic Affairs (SECO) in co-operation with KPMG, its 2004 India programme will concentrate on bringing together biotechnology companies in Switzerland, OECD countries and India.

The potential tie-ups being explored are direct financial investments in Indian companies through Swiss venture capitalists, large Swiss or OECD companies investing in research and development infrastructure here and in using India as a biotech outsourcing base.

"There are even Indian companies that are looking to put up biotechnology plants in Europe,'' said Mr Viktor Grabik, Director (Africa, Middle East and Indian Subcontinent), SOFI.

He added that the biotechnology industry was in takeoff mode and all the countries would like to explore the opportunities being thrown up.

To facilitate such alliances, SOFI is planning a conference in a biotech park in Zurich in October on `New business opportunities in the Indian biotech sector', targeted at companies in Switzerland and OECD countries.

"The idea is to invite Indian companies to participate and facilitate partnerships. The first day will be devoted to introducing participants to the opportunities available and subsequently, Indian companies could visit the facilities of their potential partners."

In Switzerland, the annual turnover of the biotech industry is about $2.5 billon compared to $0.5 billion in India.

With SOFI's role as a one-stop shop for providing companies a range of services from the investment idea to its implementation, it hopes that the October conference will bring about key partnerships between the countries.

According to Indian data, as of now Swiss exports to India are to the tune of $2335.5 million and Indian exports to Switzerland are worth $367.1 million.

About 45 per cent of Swiss exports are in the machinery equipment sector and 30 per cent in pharma and chemicals.