Biotech Industry in India
India will be the best in Asia in the coming 40 years
Why is India one of the best destinations in the world for Biotech Business or Biotech Research in current times? If we look at the predictions for India, Brazil, China and Russia, the four countries that would be the biggest competitors after USA, India seems to be going stronger than each of them in the coming 40 years. Which means there is a lot of opportunity in the Indian Biotech Sector
And the Signs are Showing
The amount of exports from India to other countries has been ever increasing in the biopharma sector. As the above char shows, there is going to be an increase over the next 40 years in the Indian Pharma-Biotech Industry over the coming years and so will the exports grow. This should be great both for investors and companies in the Indian Economy and also as a whole for Indian public.
Here are all the reasons why India is a great place for business in the Biotech Sector.
- India is among the top 12 biotech destinations in the world and ranks third in the Asia Pacific.
- It has the second highest number of United States Food & Drug Administration(USFDA) approved plants.
- Is the No.1 producer of Hepatitis B vaccine recombinant.
- The Indian biotech industry shall touch USD 100 billion by 2025.
- Large consumer base with increasing disposable income.
- India is amongst the top 12 biotech destinations in the world and ranks third in the Asia Pacific region.
- The second highest number of U.S. Food and Drug Administration (USFDA)-approved plants, after the USA.
- Adopted the product patent regime in 2005.
- Huge domestic market and Large consumer base with increasing disposable income.
- India is the world’s leading supplier of affordable vaccines and producer of recombinant Hepatitis B vaccine.
- Fastest growing major economies with GDP growth rate of above 7%.
- Potential to become a major producer of transgenic rice and several genetically modified (GM) or engineered vegetables.