Representatives from the Department of Biotechnology and the Biotechnology Industry Research Assistance Council share their views on government intiatives and growth of the sector.It is widely recognized that biotechnology has a wealth of potential applications and, with that, much economic promise. Today, the Indian biotech industry is thought to be worth around $4bn (Rs. 20,000 crores) with more than 700 companies currently operating in the sector. Progress in the field has opened up unprecedented opportunities for bio-entrepreneurship via the development and commercialization of innovative research.The biotech industry in India is forecast to generate revenues of about $11.6bn by the year 2017. This growth is expected to be driven by increasing investment from foreign companies, more R&D and infrastructure investments from private and public sectors, the emerging contract research market, increasing clinical capabilities in drug discovery, green technology and more opportunities for enhancing manufacturing capacity in the country.
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