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Indian biotech industry to top $10 billion by 2015

business Updated: Jan 19, 2010 17:01 IST

PTI
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Positive triggers would propel India's biotech sector to become a ten billion dollars industry by 2015, CMD of Biocon Ltd Kiran Mazumdar-Shaw said on Tuesday.

The BT industry veteran expects the industry to grow to five billion dollars by next year.

"By 2015, we expect it to become a size of ten billion dollars", Mazumdar-Shaw told reporters.

India's BT industry is at an inflexion point, has attained "critical mass" and created a platform that allows it to leapfrog and delivery exponential growth, she said.

"India is today becoming the vaccine capital of the world. Bio-manufacturing offers a huge potential and already there are indications that many global contract manufacturers announced they will be shifting their base from Europe to Asia. I think India will be one of the beneficiaries of that particular strategy", Mazumdar-Shaw said.

Clinical trials, agri-biotech and bio-fuels are becoming big opportunities for India, she said. "There are lot of growth drivers and trigger points which we think will deliver in the next five years".