(Photo Courtesy: www.alamiah.org)
Road Map to 2025
While the Indian Biotechnology sector is stalled at $4 billion for the last few years, the Strategy aims to achieve a target of a whopping $100 billion by 2025 with special major missions in Clean Energy, Education, Food and Nutrition, and Healthcare. All this in just a 10-year period!
The Strategy's key elements vows to build and equip the country's youth with indispensable needed skills and preparing them for the industry; nurturing innovations and elevating research opportunities; a transparent regulatory system; bolstering international collaborations; building biotechnology tools; reviving the knowledge domain; and redesigning governance model among others.
While the Strategy looks great on a piece of paper, how does the industry and all the stakeholders involved in the mission collaboratively make it a reality? According to Mr Manoj Nerurkar, COO, Syngene International, the NBDS is an excellent initiative to promote the Biotechnology industry of India.
"A notable feature," he adds, "is that it has opened the doors for the private sector participation. This is an excellent opportunity for the private biotechnology companies to partner with the Government and contribute in its development. While the Government's focus will be on developing the enabling factors like skilled human capital, research infrastructure and defining regulatory standards, the biotechnology industry should focus on improving R&D productivity and drive innovation. They should also look at scaling up their operations - both quantitatively as well as qualitatively in order to target a larger share of the global outsourcing business."