India is among the top 12 biotech destinations in the world and ranks second in Asia, after China. The Indian biotech industry is likely to experience significant growth on the back of increasing economic prosperity, health consciousness and a billion-plus population base. Current estimates value the industry at US$ 9 billion in FY18, which is expected to grow at 30.46 per cent Compound Annual Growth Rate (CAGR) to US$ 100 billion by FY25.
The Government of India has taken several initiatives including a biotechnology industry partnership program to develop new technologies and launched a National Rural Healthcare Mission to boost healthcare spending. In addition, the Department of Biotechnology (DBT) has designed the National Biotechnology Development Strategy (NBDS) to strengthen the industry’s human resources and infrastructure while promoting growth and trade. Furthermore, the Government has allowed 100 per cent Foreign Direct Investment (FDI) through the automatic route for manufacturers of drugs and pharmaceuticals.
The growing biotech industry will opt for newer / cleaner technologies for their utilities out of which water is prime & very important as all we know.
Other focus countries?
Malaysia, South Korea, Indonesia& Thailand which are showing robust growth in Biotech industry, thanks to respective govt policies as well as research work in those countries.
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