The size of biotechnology industry in the country is expected to swell to $25

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billion by 2020, minister of state for science and technology Prithviraj Chavan said. Hit by global economic downturn, the biotechnology industry grew by a slower rate of 18 per cent this year, against 34 per cent it recorded during 2007-08.

The industry has recorded a revenue of Rs 12,137 crore as against Rs 10,274 crore in the previous financial year, Chavan said at the inauguration of Bangalore Bio, an annual biotech event.

Chavan added that the government was working to make National Biotechno-logy Regulatory Authority a reality, which will help the industry achieve an overall growth across all verticals.

Giving an overview of the industry, Kiran Mazumdar Shaw, CMD, Biocon, said, “India’s promise is to focus on synergies and progress by partnering in knowledge. India can play a key role in addressing the global challenges of food and health insecurities. To achieve this goal, we need to innovate the very process of biotech research.” The Indian biotech industry is consolidating and looking at various business models to sustain the growth momentum in a globally challenging environment, she added.

During the year, export from the sector increased 25 per cent to Rs 7,152 crore, accounting for 60 per cent of the total revenue.

Bio-pharma was the major earner, with the sector generating Rs 7,883 crore, while bio-services accounted for Rs 2,062 crore. The bio-agri segment recorded revenue of Rs 1,494 crore. Karnataka chief minister B S Yeddyurappa said his government was in the process of unveiling its revised biotech (BT) policy in the next 20 days. “The government will bring in a revised biotech policy within a month. Certain provisions of the policy that are hampering growth of the industry will be changed in the revised policy with an aim to help increased capacity building, fiscal incentives and concessions to the industry.”

As per Katta Subra-manya Naidu, state minister for IT and BT, the revised policy will include incentives for the sector, enhancing skills to suit industry demands, creation of BT infrastructure, and creation of centres of excellence. "Karnataka would like to attract more investments in tier-II two and tier-III cities,” Naidu said. To pursue these objectives, the state government is looking at public/private partnerships for setting up the second phase of the biotech park in Bangalore. Rs 240 crore will be invested on for four clusters of biotech projects including agri-biotech park at Dharwad at an estimated cost of Rs 30 crore, Marine BT park at Mangalore for Rs 70 crore and an animal vivarium at Bidar for Rs 30 crore.