The Future of a $100 Billion Industry

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The biotech world is expanding everyday and India has plans to become to one of the planet’s most massive setup in the biotech industry by 2025, which was stated by Union Minister Harsh Vardhan.

“I see ten years down the road, a US $ 100-billion industry which will be the powerhouse of not only India’s pharmaceutical sector, but also be on a global scale,” stated the minister, adding, “At this rate of growth, it looks likely to be bigger than the domestic pharmaceutical industry.”

Harsh Vardhan added that maintaining the biotech sector is an important part of Prime Minister Narendra Modi’s idea of keeping people who have a gifted scientific know-how drawn to India.Minister Modi states he is looking forward to developing growth which gather international societies of scientist that are connected through biotechnology.

“Backed by the government’s liberal policy in allowing 100 % FDI for Greenfield and Brownfield projects, this is definitely a winning situation,” he added.

Commending the RGCB for its quality research and development in selected regions of biotechnology minister states the BIC, is running with an outlay of Rs 100 crore, will aid the RGCB in enhancing its significant research.

The minister stated that the RGCB is poised to become a large biotech growth centre and it will guide the centre in utilizing pre-clinical, analytical, toxicology and biological analysis to approve biological and biotech products.

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