Indian Biotech: One Million Jobs by 2010?
Published: Jul 24, 2007
After information technology, India is emerging as a global hub for biotechnology. The Indian biotech industry, excluding the organised pharmaceutical and drug manufacturing companies, reported revenues in excess of $1 billion in 2005-06. Encouraged, the government has prepared a draft biotech strategy to provide a clear roadmap to the industry for 10 years. The draft strategy has tried to take a holistic look at the current scenario and has suggested several measures and timeframes to promote innovation and manufacturing. The declared goals are to create world-class human capital, build quality infrastructure, and address the basic needs of society. All this would be aimed at logging $5 billion and generating a million jobs by 2010.