The Indian biotech industry,
which is 2 % of the global biotech market - has the
potential to develop as a key player, generating revenues
worth US$ 5 billion. The domestic biotechnology industry
is now a US$ 3 billion sector, registering 30 % growth
in 2007-08 over the previous year.
Biotechnology industries in India are
growing to occupy 140 million square feet by 2010, creating
employment for a million by means of its products as
well as its services. An Ernst and Young survey recognizes
India as one of the emerging biotech leaders, ranked
third in the Asia-Pacific region based on the number
of biotech companies in the country with 340 companies
registered in this sector.