India: US$7 billion biotech industry in 2010

15-11-2007 | |

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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