Biotechnology industry in India has a strategic role to play in addressing various developmental challenges of the nation, be it in affordable healthcare both in terms of affordable medicines and therapies and their delivery models, as well as meeting the challenges of the food and energy security of the country.
In year 2010-2011 the Indian biotechnology industry revenues touched Rs 15,000 crores, despite the global downturn in 2009 and slow recovery in 2010. The industry has grown consistently in double digits over the last decade with average revenue growth figures greater than 20%. It is estimated to reach a turnover of around Rs 45,000 crores by 2015 which would require it to grow at about 30% year on year. To achieve this target a synergistic support from central and state government is needed both in the short as well as long term.