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India set to become major exporter of bio-products
New Delhi, May 18: India would become a major global player in exports of bio-products to the Middle East, South-East and certain developed countries with an estimated $ 4,000 million investment in healthcare, food processing, agriculture and environment sectors by 2010.
New Delhi, May 18: India would become a major global player in exports of bio-products to the Middle East, South-East and certain developed countries with an estimated $ 4,000 million investment in healthcare, food processing, agriculture and environment sectors by 2010.
According to an ASSOCHAM paper on 'investment and collaboration opportunities in biotechnology', demand for human and animal health care products would further increase and "tremendous opportunities will be created for the biotech industry."
Seventy per cent of total consumption of biotech products estimated at $ 1500 million in 1997 was produced based on local capabilities and skills. The production is expected to increase to 80 per cent by 2005.
The average estimated demand of biotech products in the country in US Dollar terms in 2005 is expected to increase by 39.5 per cent to 1,150 million in human and animal healthcare, 32.8 per cent to 945 million in agriculture, 25 per cent to 730 million in industrial and 2.7 per cent to 80 million in other biotech products by 2005.
Demand for biotech products in the country was already increasing with an increase in population and their awareness levels, the paper said.
The paper suggested joint ventures between Indian institutes of excellence and MNCs and foreign investors for developing biotech products which are research based.
Bureau Report
Seventy per cent of total consumption of biotech products estimated at $ 1500 million in 1997 was produced based on local capabilities and skills. The production is expected to increase to 80 per cent by 2005.
The average estimated demand of biotech products in the country in US Dollar terms in 2005 is expected to increase by 39.5 per cent to 1,150 million in human and animal healthcare, 32.8 per cent to 945 million in agriculture, 25 per cent to 730 million in industrial and 2.7 per cent to 80 million in other biotech products by 2005.
Demand for biotech products in the country was already increasing with an increase in population and their awareness levels, the paper said.
The paper suggested joint ventures between Indian institutes of excellence and MNCs and foreign investors for developing biotech products which are research based.
Bureau Report