Speaking during the Progressive Punjab Investors' Summit, biopharmaceutical giant Biocon Limited's managing director Kiran Mazumdar-Shaw lauded the bold and innovative steps taken by the Punjab government in its industrial policy to attract investors.
"If similar steps had been taken by India to attract investments, perhaps it would not be ranked number 134 on the list of preferred destinations of investments and would have been up there in the top 10," she said.
Shaw said the aggressive approach shown by Punjab for attracting new industry should also show the way to usher in the era of channelling the energy and strength of new entrepreneurs.
She said Biocon was looking for investment of Rs 3,000 crore for expansion of its facilities, especially in oral insulin, and setting up of an integrated bio-pharmaceutical company with research focus on diabetes, oncology and auto-immune diseases. She said she was impressed by Punjab's focus on human resource development, which was the backbone of knowledge-based industry. She said her pet project was regenerative medicines and tissue repairs and said research institutes such as Mohali-based IISER (Indian Institutes of Science Education and Research) could play a significant role in furthering research in this sector.
Focusing on biotech education, Shaw said after making the country self-sufficient on the food security front, Punjab had the potential to make India self-sufficient in the pharma sector by focusing on genetic industry.