Bangalore, October 17, 2014 – State IT & BT Minister SR Patil has called for better focus on agriculture and biotech sector.
Addressing delegates and mediapersons at the unveiling of Bangalore India Bio conference to be held on February 9-11 next year, Patil sad that as 65-70 per cent of the people in the country are dependent on agriculture, there is an urgent need for the government to devise policies that promote growth of this sector. “Right policies can empower farmers and thereby help the economy,” he added.
Karnataka has contributed more than a quarter of the biotech sector earnings, which stood at $4 billion in 2014-15. Half of it comes from exports. There are 226 biotech companies in the State.
“There is a need to position India as a quality yet affordable healthcare destination,” said Kiran Mazumdar Shaw, CMD of Biocon, who is also the chairperson for Karnataka’s Vision Group on biotechnology.
The potential growth of this sector can be seen from the fact that according to a recent KPMG study, biotech/ healthcare IT are amongst the top trends that can disrupt industries in the next 3 years.
In 2012, the Karnataka Government had sent a proposal for setting up an Information Technology Investment Region (ITIR), which got the Union Cabinet approval nod in 2013. This proposal included setting up of parks where IT and biotechnology companies, including startups could set up operations.
For the development of ITIR, the Karnataka Industrial Area Development Board (KIADB) had announced that it will acquire 2,072 acres for the first phase of this project, which the state is still in the process of acquiring. Business LIne
