|
India's Biotechnology Industry Blooming
Biotechnology industry in India is progressing. The revenues generated by the industry reached US$ 2 Billion in 2006-07, an increase of US$ 1 Billion over 2004-05 and US$ 1.5 Billion over 2005-06.
advertisement
India's significance in Biotechnology filed is diverse. Besides generating skilled manpower plus a knowledge base, the country is demonstrating to be a perfect location for manufacturing as well as high-level biotech research programmes. With the help of government initiatives, Indian Biotechnology industry is perched for a remarkable growth.
The biotechnology market in India possesses a growth rate of 36.5% annually. This growth rate is among the maximum in the globe. Even though the country currently holds a market share of barely 2% of worldwide revenues however, it has an immense potential to develop into a major player in the worldwide biotechnology market by the year 2010.
Global biotechnology players have demonstrated an increasing interest in collaborating with Indian companies. This was highlighted by the fact that chief executive officers of several global companies participated at the biotechnology event in Bangalore.
Industry observers are comparing biotech industry in India to a baby elephant. It's still in its youth and possesses the potential to develop and acquire substantial space in the worldwide biotech business.
As per RNCOS' recent report "Asia Pacific Biotechnology Market (2007-2010)", Indian biotechnology market vis-à-vis the Asian and global markets, promises a great potential to become one of the most significant players in the global arena by 2010. India ranks among the top ten biotech hubs of the world and would join the elite club of top five biotech hubs by 2010 when it s biotech Industry would reach US$ 5 Billion from US$ 1.45 Billion in 2005.
This research reports also addressed some other interesting issues for today's global business environment like the role-played by the governments in Asia-Pacific in promoting their respective biotech industries, forces that are working in favor of the industry as well as opportunities offered by the industry.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
For more information visit:
http://www.rncos.com/Report/IM520.htm
Current Industry News:
http://www.rncos.com/blog
Would you like to see your news and articles here? GO>>
Disclaimer: The views and opinions expressed in the research published are those of the individual companies and writers and not necessarily those of Investorideas.com®, or any of the industry sector portals . At the time of publication, writers may hold positions in the stocks or companies mentioned.
Investorideas.com® or any of the industry sector portals cannot assure accuracy of the research presented. Investors are encouraged to research and verify facts and under no circumstances is Investorideas.com® endorsing the content as a recommendation to buy or sell stock.
| 
