Bangalore: Positive triggers would propel India’s biotech sector to become a $10 billion industry by 2015, Biocon chairperson and managing director Kiran Mazumdar-Shaw said on Tuesday.
The BT industry veteran expects the industry to grow to $5 billion by next year.
“By 2015, we expect it to become a size of U$10 billion”, Mazumdar-Shaw told reporters.
India’s BT industry is at an inflexion point, has attained “critical mass” and created a platform that allows it to leapfrog and delivery exponential growth, she said.
“India is today becoming the vaccine capital of the world. Bio-manufacturing offers a huge potential and already there are indications that many global contract manufacturers announced they will be shifting their base from Europe to Asia. I think India will be one of the beneficiaries of that particular strategy,” Mazumdar-Shaw said.
Clinical trials, agri-biotech and bio-fuels are becoming big opportunities for India, she said. “There are lot of growth drivers and trigger points which we think will deliver in the next five years.”