The growth prospects of the Indian biotechnology industry are bright provided it receives the right stimulus and an enabling environment, Dr. Harsh Vardhan, Minister for Science & Technology and Earth Sciences said today.
He unveiled the National Biotechnology Development Strategy 2015-2025. The Strategy 2015-20 aims to establish India as a world-class bio-manufacturing hub. It intends to launch a major mission, backed with significant investments, for the creation of new biotech products, create a strong infrastructure for R&D and commercialization, and empower India’s human resources scientifically and technologically.
Dr. Harsh Vardhan said, “The Department of Biotechnology (DBT) is going to soon complete 30 years. It has done commendable work over the years in catalyzing the growth of the biotechnology industry, which has a huge potential to positively impact the lives of Indians in every area, such as research, education, health, technology, and energy.”
“I believe this industry has the potential to grow like the IT industry over the next ten years and beyond. The development of the inexpensive rotavirus vaccine, available for less than a dollar in India when internationally it costs 50 dollars, is an example of what can be achieved by the Indian biotechnology industry. Several other vaccines, such as for dengue and malaria, are already under development,” he added.
Dr Vijay Rahghavan, Secretary, Department of Biotechnology said,“India stands at an extraordinary position in science and technology. Our challenge is to build on this foundation to see how to take the country further. Biotechnology has an important part to play in India’s growth story and there is enthusiastic support from the Government for this vision.”
“ We have drafted a very ambitious strategy with the target to turn biotechnology into a US $100bn industry by 2025. I believe this is not impossible to achieve. Several growth opportunity exists,” he added.
The key elements of the National Biotechnology Development Strategy 2015-20 include Build skilled workforce and leadership, Revitalize the knowledge environment at par with the growing bio-economy,Enhance research opportunities in basic, disciplinary and inter-disciplinary sciences, Encourage use-inspired discovery research, A focus on biotechnology tools for inclusive development and Ensure a transparent, efficient and globally best regulatory system and communications strategy
The objective is to make India ready to meet the challenge of turning biotechnology into a US $100bn industry by 2025, Raghavan said.
The National Biotechnology Development Strategy 2015-20 intends to launch four major missions in healthcare, food and nutrition, clean energy and education. It would create a technology development and translation network across India with global partnership, including 5 new clusters, 40 biotech incubators, and 20 bio-connect centres.
The National Biotechnology Development Strategy 2015-2020 is the direct result of formal and informal consultations over the past two years with more than 300 stakeholders, including scientists, educators, policy makers, leaders of industry and civil society, voluntary and non-government organizations, regulators and international experts.
The consultations offered an opportunity to discuss and evaluate technological, societal and policy aspirations, critical success factors as well as barriers that may impede growth, and put them in a newer and broader perspective and action plan.