NewDelhi,January20,2017:TheBiotechnologysectorisoneofthesunrisesectorsinIndia.ThegovernmentisinvestingsubstantiallyforcreatinghumancapitalandinfrastructurewithaspecialfocusonR&DtodevelopIndiaintoaworldclassbiomanufacturinghub.ThesectorinIndia,whichiscurrentlygrowingat20%isexpectedtogouptoUSD11.6Billionby2017.ThefocusisonmakingtheIndianbiotechnologysectorreachUSD100billionby2025.Currently,India’sbiotechindustryholds2%oftheglobalmarketshareandisthethirdlargestintheAsiaPacificregion.Thesectorhasimmensepotentialtogrowandprovidesplentyofopportunitiestoinvestors.The‘NationalIPRpolicy’announcedbytheGovernmentofIndiainMay2016whilehelpingpromoteinnovation,R&Dandentrepreneurship,alsolaysdownprocessestoexpediteIPRfilings,whichiscriticalforthesuccessofthissector.
Keyachievementsduringthelasttwoyearsare:•CurrentGoodManufacturingPractices(CGMP)PlantinauguratedatCSIR-IIIM,JammuinOctober2016,hasworld-classinfrastructureforthemanufactureofphytopharmaceuticals.•India’sfirstcellulosicethanoltechnologydemonstrationplantdevelopedthroughindigenoustechnologywasinauguratedonApril22,2016.Department of Industrial Policy and PromotionDepartment of Read More
Corporate Comm India(CCI Newswire)
