Biotechnology Market in India - Government Initiatives, thurst areas and consumption of biotech products

Biotechnology has really taken off not only as a discipline in college textbooks but also has yielded fruit in terms of profit-making business enterprises. The success of the Biotechnology industry has lead to sustained economic growth in the developed nations like US, European countries and Canada. India is also fast emerging as a key player in biotechnology related activities and investments. Currently, although the biotechnology market in India contributes only a 2% share in the global market, it is on the threshold of a colossal growth in the coming decade.

The importance of the biotech market in India and its prospective growth can be grasped from the steps taken by the Indian government to further development of research and entrepreneurship initiatives in the country. The Department of Biotechnology (DBT) and the various Centres of Excellence provide the backbone of furthering research activities and laying the foundation for generating knowledge and trained manpower to assist entrepreneurship programs and the biotech private industry in India. Several industry houses from the "old industry" have already jumped in the Indian biotechnology market to take advantage of the opportunities this new and exciting field.