| Riding on the back of a strong pharmaceutical market | | | | small biotech firms to make a mark in the global |
| in India, coupled with the presence of scientific | | | | platform,” said Kunal Vora, vice president of the |
| manpower and clinical abilities, India’s biotechnology | | | | SHRM Biotechnologies, a mid-sized Kolkata-based |
| sector is all set to become a US$5 billion industry by | | | | organisation offering extensive consultancy services in |
| 2011 and a US$10 billion industry by 2015. This is the | | | | the areas of biopharmaceuticals and biotechnology. |
| view upheld by several industry players, including Kiran | | | | Pro-active policies undertaken by the government as |
| Mazumadar Shaw, chairman and managing director of | | | | well as the presence of a host of international |
| a biotechnology major, Biocon Ltd. | | | | standard research institutes have also contributed to |
| Higher growth projections for the biotechnology sector | | | | the development of SME biotech companies. These |
| will provide a fillip to several SMEs, which have a | | | | factors are expected to spur the growth of Indian |
| significant presence in the sector. | | | | small biotech firms even during the coming years. |
| Growth ahead for biotech SMEs | | | | “The presence of a wide network of research |
| Progress achieved over the last few years in diverse | | | | laboratories, coupled with the fast growing |
| areas of biotechnology, including clinical trials, biofuels | | | | manufacturing and clinical capabilities in India has |
| and enzymes, has opened up new avenues for the | | | | strengthened the presence of small firms and is further |
| SMEs in the sector, helping them to establish their | | | | expected to help biotech firms in achieving higher |
| footprint both in domestic and international markets. | | | | growth rate in the coming few years,” said a key |
| “Indian SME biotech firms have achieved | | | | industry official. |
| tremendous progress, thereby emerging as a driving | | | | Furthermore, considering that India is becoming a |
| force in some segments, while surfacing as a strong | | | | vaccine capital, there are huge opportunities ahead for |
| competitor in a few areas. The rich pool of scientific | | | | the country’s SME biotech companies. |
| manpower and technical workforce is also benefiting | | | | |