Under Make in India Biotechnology to grow to USD 100 Billion by 2025: Harsh Vardhan
Updated: May 18, 2015 11:42:36am
Thiruvananthapuram, May 18 (KNN) Inaugurating the Biotech Innovation Sector here, Union Minister Harsh Vardhan revealed that private sector investment will be drawn to the project.
“RGCB is poised to become a major Biotech growth centre because we are offering investors from the biotech and biopharma sectors state-of-the-art, ‘test and prove’ platforms. They will use these to carry out pre-clinical, analytical, toxicological and biological assays to validate biotech or biological products,” he announced.
Vardhan,the Union Minister for Science and Technology and Earth Sciences, has said that the biotechnology sector is growing at an annual rate of 30 percent and India is set to become home to the world’s third largest setup in the sector by 2025.
Inaugurating the first phase of the Bio Innovation Centre of the Rajiv Gandhi Centre for Biotechnology (RGCB) here on Sunday, the Minister said, “I see ten years down the road a USD 100 billion industry which will be the powerhouse of not only India’s pharmaceutical sector, but will be on a global scale. At this rate of growth it looks likely to be bigger than the domestic pharmaceutical industry.”
Vardhan also talked about building up clusters of growth which would be home to international societies of scientists of all types linked to biotechnology. Backed by the government’s liberal FDI policy (100 percent for Greenfield and Brownfield), this is a winner situation.
The Chief Minister of Kerala, Oommen Chandy, was present on the occasion.
Phase 2 of the BIC, which is also under implementation over 20 acres, will include a state of the art research laboratories. It will include an “Advanced Centre for Molecular & Cellular Therapeutics”, a 75 bed hospital jointly run with the Regional Cancer Centre, which will offer cutting edge technologies, therapies and clinical trials for cancer vaccines, immunotherapeutics.
There will also be facilities for addition therapies such as stem cell replacements, gene therapy, molecular tumour targeting and imaging. (KNN Bureau)
“RGCB is poised to become a major Biotech growth centre because we are offering investors from the biotech and biopharma sectors state-of-the-art, ‘test and prove’ platforms. They will use these to carry out pre-clinical, analytical, toxicological and biological assays to validate biotech or biological products,” he announced.
Vardhan,the Union Minister for Science and Technology and Earth Sciences, has said that the biotechnology sector is growing at an annual rate of 30 percent and India is set to become home to the world’s third largest setup in the sector by 2025.
Inaugurating the first phase of the Bio Innovation Centre of the Rajiv Gandhi Centre for Biotechnology (RGCB) here on Sunday, the Minister said, “I see ten years down the road a USD 100 billion industry which will be the powerhouse of not only India’s pharmaceutical sector, but will be on a global scale. At this rate of growth it looks likely to be bigger than the domestic pharmaceutical industry.”
Vardhan also talked about building up clusters of growth which would be home to international societies of scientists of all types linked to biotechnology. Backed by the government’s liberal FDI policy (100 percent for Greenfield and Brownfield), this is a winner situation.
The Chief Minister of Kerala, Oommen Chandy, was present on the occasion.
Phase 2 of the BIC, which is also under implementation over 20 acres, will include a state of the art research laboratories. It will include an “Advanced Centre for Molecular & Cellular Therapeutics”, a 75 bed hospital jointly run with the Regional Cancer Centre, which will offer cutting edge technologies, therapies and clinical trials for cancer vaccines, immunotherapeutics.
There will also be facilities for addition therapies such as stem cell replacements, gene therapy, molecular tumour targeting and imaging. (KNN Bureau)
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