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India, with an interesting demography that can create
a good environment for biotech companies. The Indian subcontinent
has a varied species of flora and fauna and it is observed
that the bio-diversity will be an advantage for the biotech
companies to find samples and conduct field research much
more efficiently.
The total biotech sector market size during 2002-2003
was $420 million in India. The bio-pharma sector accounted
for 70% of the market share, with total sales touching
$290 million. The bio-industrial sector, accounted for
13% of the market share with total sales of $53.4million.
The bio-services, which include clinical research, contract
research and contract manufacturing accounted for 7% of
the market share with $30 million in revenues. The agriculture
biotech sector accounted for 6% of the market share with
$25 million as revenues. The biotech sector market size
in India is projected to increase to $1.5 billion by 2007
and to$4.5 billion by 2010.
The Pharmaceutical Industry in India is in the front rank
of India’s science-based industries with wide ranging
capabilities in the complex field of drug manufacture
and technology.
From simple headache pills to sophisticated antibiotics
and complex biotechnology derived products, almost every
type of medicine is now made in India.
Companies can take advantage of the tremendous prospects
in the pharmaceuticals and biotech sector combined with
big tax benefits, grants, subsidy offered by the Indian
government by setting up an in-house R and D centre.
We can help you with all the formalities required to set
up in-house r and d centre including project report, tax
saving advise and providing personnel trained/Scientist
in biotechnology.
Like to know more about setting up an in- house r and
d centre in biotechnology and pharmaceuticals?
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