New elephant on the block- India Biotech

These are exciting times for the Indian biotechnology industry. The industry has doubled in size within the last two years buoyed by a strong growth in biotech exports. In the year 2006-07, it passed the USD 2 billion mark in revenues and registered a 31% growth rate as compared to the fiscal year of 2005-06. The Indian biotechnology industry offers immense potential for investments thanks to its large marketplace, strong government support and low-cost English speaking professionals. The industry currently has around 340 companies which employ 25,000 technologists and the latter is expected to double by the year 2010.