BioSpectrum's Editor in Chief, Mr N Suresh moderating the discussions between various representatives at the round table summit.
In a much asked for initiative, BioSpectrum renewed its industry connect events from the first half of 2015. The first one was the CEO Conclave held in Delhi on March 10, 2015. The theme of the Round Table discussion attended by the representatives of all the major industry verticals was 'BUDGET 2015: Biotech Industry's Destiny Forward.'
In his opening remarks, Mr Narayanan Suresh, Group Editor, BioSpectrum welcomed the participants and asked them to voice their free opinions on the budget. He remarked that the potential in the industry is yet to be tapped as the government hasn't given any special attention to it so far. "Government should clarify on the broad allocations made in the budget," said Mr Suresh.
Present on the occasion, Mr Jagdish Patankar, managing director, MM Activ Sci-Tech Communications mentioned that the BioSpectrum has always been a watchdog for the industry and has supported its cause for the betterment of nation. "Industry should be forthcoming with its expectations," he added.
First to speak from industry, Dr Jitendra Verma, managing director, Life Care Innovations, opined, "Start-ups and MSMEs need higher level of financial support for both pre-clinical and clinical development of biopharma products. To encourage entrepreneurship, it would immensely help to create insurance schemes in case a young entrepreneur fails in their endeavour. Such insurance schemes can be created with adequate safeguard to minimise abuse."
As per Mr Pankaj Sharma, chief executive officer, LeadInvent, "Industry must introspect why the big companies are shutting their businesses in India. He added, "If the big boys are not doing it then let the innovation come from start ups." Raising the issue of lack of infrastructure, he also said that large animal studies difficult to do in India and also the radio chemistry studies are at a standstill due to unclear policy.