India: Why Biotech's Bigger Than IT

All you cats, cramming up to get into the IT courses, do you know there’s another sector you can turn to which has the potential to generate one million jobs within the next 5 years? Yes, it’s biotechnology, which has the potential to be the new driver of the Indian economy. The market size of the Biotech sector in India as per estimates of Association of Biotechnology-led Enterprise is slated to touch $5 billion in value terms by 2010 and $1 billion by 2005. In addition to Central government initiatives, several states have formulated their state specific biotech policies and established biotech-parks to boost the biotechnology sector, Maran said. This sunrise sector is posing a threat to the Indian IT sector that’s expected to produce 1.12 million professionals in the next few years.

Back to news