The Indian biotechnology sector is highly innovative and has exponential growth momentum. This sector plays a significant role in
enhancing India’s global profile along with immense contribution to country’s growth economy. India is among the top 12 biotech
destinations in the world and ranks 3rd in the Asia-Pacific region. India has the 2nd highest number of US Food and Drug Administration
(USFDA) approved plants, after the USA and is the largest producer of recombinant Hepatitis B vaccine.
With pharmaceutical industry, dwelling on the growth trajectory, the industry is moving its pace in the Biopharma segment. The Indian
biotech industry holds about 2% share of the global biotech industry. The government must invest US$ 5 billion to develop human
capital, infrastructure and research initiatives if it is to realize the dream of growing the sector into a US$ 100 billion industry by 2025, as
per Dr. Harsh Vardhan, Minister for Health and Family Welfare.
India has emerged as a leading destination for clinical trials, contract research and manufacturing activities owing to the growth in this
sector. India's biotech sector has attracted significant amount of attention over the past two decades. Several global companies have
aggressively joined hands with Indian companies due to India's strong generic biotechnology potential. With the country offering
numerous comparative advantages in terms of R&D facilities, knowledge, skills, and cost effectiveness, the biotechnology industry in
India has immense potential to emerge as a global key player.
The move towards more transparent and stringent regulatory regime globally, the Biopharma industry is contributing enormously to
health care sector. With the wide patient population and low manufacturing costs, the India remains an attractive destination for the
international Biopharma players. Considering the complexity involved in large molecule development it is extremely crucial to ensure
right research and development support, quality assurance and control concerns, fostering innovation environment, developing
cutting-edge cost-effective products along correct marketing and launch strategies for the lucrative global market.