Financial Daily from THE HINDU group of publications
Monday, Jul 25, 2005
Financial Daily from THE HINDU group of publications Monday, Jul 25, 2005 |
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Industry & Economy
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Bio-tech & Genetics Info-Tech - Human Resources Bioinformatics: `Market large for India' Our Bureau
New Delhi , July 24 THE country's bioinformatics market can acquire 5 per cent of the global pie, from the present 2.5 per cent, provided the Government ushers in necessary changes, according to a report `Building blocks of bioinformatics: Human resource requirements In India,' prepared by the Confederation of Indian Industry and the Department of Information Technology (DIT). According to the report, a majority of the Indian bioinformatics companies are planning to increase their scale of operations. The report states that to capture 5 per cent of the global market, the industry would need to grow at a CAGR of 42 per cent. It further states that 42 per cent of the companies surveyed are planning to increase their scale because they are investing more resources in R&D and product development. The report also adds that for expanding the operations, there would be a huge surge in demand for bioinformaticians. According to the report, the total annual manpower required by the industry to achieve a growth rate of 42 per cent would be 6,484 professionals in 2008-09 and 26,362 professionals in 2012-13. Further, the report estimates that nearly 670 teachers would be required in the formal education sector in 2008-09 and 2,723 by 2012-13.
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