Boston: The USA-India Chamber of Commerce (USAIC), a bilateral Chamber of Commerce aimed at promoting and facilitating trade and investment between the United States and India, will organize US-India Biotech Summit in association with Department of Biotechnology, Ministry of Science and Technology, Government of India in Boston on 7 May at Omni Parker Hotel.
The focussed areas of the summit will be discovery, development, IP and regulatory issues, Investment opportunities and mergers and acquisitions of trends in the Life Sciences industry. The speaker of the event will be Dr MK Bhan, secretary, Department of Biotechnology.
Over 200 Biotech and investment firms will participate. This Summit is part of an ongoing dialogue said Karun Rishi, president of the USA-India Chamber of Commerce. The goal for the Summit is to understand:
1. What needs to be done to double the US-India Biotech business in the next two years
2. What can be done to accelerate the cross border investments in the Life Sciences industry.
In a message, prime minister Dr Manmohan Singh stated: “Biotechnology has emerged as an important area of research and enterprise in India. The last five years have witnessed impressive growth in biotechnology business. This growth process shows the benefits of public-private partnership in research and development as well as importance of international partnership in India’s scientific, technological and industrial development.”
Another message from Minister of Commerce and Industry, Kamal Nath said,“India’s expertise in the area of information software technology is now well-known. Driven by our reservoir of millions of scientists, engineers, technicians and managers, we hope to replicate our software revolution in biotechnology and other areas. The summit can further help in creating centres of excellence in biotechnology in the country.”
In India, an admirable start has already been made through measures like a well-conceived regulatory framework being put in place to approve bioagricultural crops and recombinant DNA products for human health. Based on sound ethical guidelines, a policy that allows stem cell research is in place. The future also lies in collaboration between companies and between nations to ensure that the promise of biotechnology is fulfilled. In this context, this summit provides an excellent platform to bring Indian policy makers, established and emerging life sciences companies from the US and India, investors and academia together in one place. The USA-India Chamber of Commerce has been actively promoting and facilitating partnerships and investments between the USA and India in the fields of biotechnology, life sciences and healthcare. Continued cooperation between the two countries, sharing of knowledge and efficient pooling of resources will help ensure that the fruits of biotechnological research are enjoyed by all.