India

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The Republic of India is the seventh-largest country by area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world. The Indian economy is the world's eleventh-largest by nominal GDP and third-largest by purchasing power parity. Following market-based economic reforms in 1991, India became one of the fastest-growing major economies; it is considered a newly industrialised country.

Biotechnology

The Government of India (GOI) through the Department of Biotechnology (DBT) has helped nurture the biotechnology field in India since its inception in 1986. Over the last decade the sector’s revenues have rapidly increased from US $500 million in 2003 to US $4 billion in 2011, growing at an average rate of 20% year-on year.

Business opportunities

If a favourable business environment is created, the biotechnology and healthcare sectors combined will be able to grow at a rate of 25-30% and have the potential to generate revenues of US $100 billion by 2025.The country is at the threshold of a decade of innovation and Indian biotechnology is poised to provide solutions to myriad challenges faced in health, food or fuel security.

The importance of this high technology sector will become evident as its products catalyse the transformation of the Indian economy by offering solutions to the multitude of challenges that both India and the world will encounter in food security, fuel security and healthcare. Furthering these three foundational areas, on which a nation’s economy and prosperity depend, represent the key opportunities for India to evolve into a bioeconomy.

In particular, the bioeconomy opportunities for India predominantly lie in biologics, especially biosimilar and vaccine manufacturing, stem cells, medical devices and diagnostics, contract research and manufacturing, integrating scientific evidence-based traditional knowledge into healthcare, agribiotechnology and green biotechnology, especially bioremediation and bioenergy. Technology enablers in the form of systems and synthetic biology will help advance the aforementioned areas.

India has the potential to become a global hub for R&D and manufacturing in all aspects of biotechnology.

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