Process Management

News last update:6 Aug 2012

India: US$7 billion biotech industry in 2010

The Indian government will try to bring back Indian scientists working abroad to boost research in the country, establish new institutions, forge partnerships with the industry to make the biotech sector a US$7 billion industry by 2010.

Recently Minister of Science and Technology Kapil Sibal unveiled the national biotechnology development strategy.  He said an independent and autonomous national biotechnology regulatory authority would soon be set for bio-safety clearance of genetically modified products and processes.

The government will also invest up to 30% of the budget of the Department of Biotechnology in public-private-partnership schemes by the end of the 11th plan. "We will give very attractive grants to get back middle level scientists from abroad to pursue research on national priorities," M K Bhan, Secretary, Department of Biotechnology (DBT) said.

A sum of Rs 6500 crore (€ 1.13 billion) has been allocated for the DBT in the draft Eleventh Plan and the Centre has proposed to establish 50 centres of excellence as part of efforts to build world class human capital.
"We will also introduce a bill in the Budget Session of Parliament to protect intellectual property in public-funded research and development institutes," Sibal said.

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