Biotechnology has vast potential to grow in India. Indian biotech sector stands 3rd in the Asia pacific region in terms of number of companies, about 40% of these are in Biopharma segment and the rest are in Agri Biotech, Bioinformatics, industrial Biotechnology and Bioservices. These companies provide high-level services in the drug discovery, validation, genomics, proteomics and other allied areas. The market size is estimated to be US$2.80 billion during the year 2007-08 which is 2% of the global market share. It is poised to reach the US$ 5 billion mark by 2010 under favorable economic condition. India has the tremendous potential to become the global player in the biotechnology sector because of the cost effective products and services. To become one of the major global players, India needs to focus on Developing Skilled Manpower, Infrastructure, Quality Compliance, Venture Funding and addressing Regulatory & IPR issues.
