Biotechnology Industry to Surpass a Figure of US $ 11.6
The Department of Industrial Policy and Promotion (DIPP) has released a statistic affirming Foreign Direct Investment in the region of pharmaceuticals and drugs. The value of investments will be around US $ 8.81 billion that comes to about Rs 48,828.3 crore in Indian currency. It is predicted that, the biotechnology industry will surpass 11.6 billion dollars by the year 2017.
The foundation of biotechnology lies in knowledge and it is one of the rapidly mounting sectors in India, helping in determining the budding economy. By the Government initiatives it has turned to be a massive universal performer in the terms of information, cost efficiency, services related to R & D (research and development) and skills. Many educational institutes in India offer degree and diploma courses in the field of bio-science, bio-informatics and biotechnology generating almost 5,00,000 students yearly and creating a team of scientists and engineers. India holds the third largest position in the biotech sector in the Asia-Pacific region.
The foundation of biotechnology lies in knowledge and it is one of the rapidly mounting sectors in India, helping in determining the budding economy. By the Government initiatives it has turned to be a massive universal performer in the terms of information, cost efficiency, services related to R & D (research and development) and skills. Many educational institutes in India offer degree and diploma courses in the field of bio-science, bio-informatics and biotechnology generating almost 5,00,000 students yearly and creating a team of scientists and engineers. India holds the third largest position in the biotech sector in the Asia-Pacific region.
Biotechnology Industry in India is divided into :-
• Bio Services: These services unite together cell, molecular and computational biology.
• Bio Agri: It is a cost efficient and easily implemented method of cultivating crops biologically, to help reduce the carbon level in the atmosphere by not contributing to global warming. It is also referred to as Green Biotechnology.
• Bio Industry: Mostly known as White Technology, is basically used for industrial purposes with the help of cells or the constituents of cells like enzymes to produce useful products for industrial use.
• Bio Pharmaceuticals: It is a crucial part of medical science and healthcare market industry. The prospects of healthcare market emerge with the constant progression in technology and pharmaceutical products. It added 63 percent to the revenue generated by the biotechnology industry. Three fifth of the industry’s revenue is generated through bio pharma sector recording a rise of 12 percent.
• Bio Informatics: the application of computer knowledge to organize and manage the field of molecular biology by collecting, examining, piling together the hereditary information which can be useful for inventing and innovating different drugs and medicines.
Biotechnology Industry in India is leading the pathway of growth as many products like stem cell therapies, antibody production, genetically modified crops, vegetables and seeds, genome analysis, biofuels, biopesticides etc. are contributing to economic infrastructure and expanding it world wide.
• Bio Services: These services unite together cell, molecular and computational biology.
• Bio Agri: It is a cost efficient and easily implemented method of cultivating crops biologically, to help reduce the carbon level in the atmosphere by not contributing to global warming. It is also referred to as Green Biotechnology.
• Bio Industry: Mostly known as White Technology, is basically used for industrial purposes with the help of cells or the constituents of cells like enzymes to produce useful products for industrial use.
• Bio Pharmaceuticals: It is a crucial part of medical science and healthcare market industry. The prospects of healthcare market emerge with the constant progression in technology and pharmaceutical products. It added 63 percent to the revenue generated by the biotechnology industry. Three fifth of the industry’s revenue is generated through bio pharma sector recording a rise of 12 percent.
• Bio Informatics: the application of computer knowledge to organize and manage the field of molecular biology by collecting, examining, piling together the hereditary information which can be useful for inventing and innovating different drugs and medicines.
Biotechnology Industry in India is leading the pathway of growth as many products like stem cell therapies, antibody production, genetically modified crops, vegetables and seeds, genome analysis, biofuels, biopesticides etc. are contributing to economic infrastructure and expanding it world wide.