Our academic institutes of learning and research have focused on developing large numbers of qualified personnel but not necessarily with the skills and quality attributes sought by Industry to compete globally. It is vital to fix the skills deficit if we are to attain our global aspirations.
India’s
biotechnology industry has evolved in a challenging environment of sub-optimal
funding, inadequate infrastructure and weak regulation. What is commendable is the sustained growth
momentum the sector has delivered over the years and the scale that many
segments have realized.
The sector is
currently valued at about $11 billion, having grown at a CAGR of ~20% over the
last 10 years. It is estimated that
enabling policies can create a favourable business environment capable of
generating Biotech revenues of US$ 100 billion by 2025.
The success of
the Indian Biotech sector is attributable to a large pool of English-speaking
scientific and engineering talent and an educated technical work force that has
enabled cost competitive R&D and manufacturing to provide India with a
significant competitive edge over many other nations. India now aspires to position itself as a
leading global innovation hub for biotechnology.
