European Journal of Biotechnology and Bioscience

Authors
Dr. S Kameswaran

Abstract
The biotech policy of India is continuously evolving but its basic concepts have been settled for creating a vibrant industry. The Indian biotechnology industry was slow to start but gained momentum and is now booming following the software sector. The current share in the global market in the global market is just 1.1%, but the Indian industry has the necessary ingredients to become a prominent player in the global biotech market.1 India’s biotech sector is today among the top five in the Asia pacific region. India shows immense potential not only as a destination for new generation pharmaceuticals, biotech products and diagnostics but is also becoming an important hub for outsourcing of clinical traits and contract research. Though India is yet to introduce a novel biotechnology product, it has strong science support and the potential to generate revenue of $5 billion and a million jobs by 2010. Over the past two decades, the Indian biotech sector has witnessed a number of scattered and sporadic initiatives on the academic and industrial front.