The Web


 Latest Business news on mobile: sms BIZ to 7333

Home > Business > PTI > Report

1 mn jobs for scientists, engineers in 5 years

August 07, 2003 20:51 IST
Last Updated: August 07, 2003 22:23 IST

India aims to generate employment for over one million scientists and engineers in the next five years, with an estimated business of $9billion, CII national task force on biotechnology and chairperson Bicon India Kiran Mazumdar Shaw said on Thursday.

Delivering the keynote address on India's 'biovision' at the Global Entrepreneurship conference 'Leading the World: Building a Technology Tiger' organised by the Stanford Asia Technology Initiative, she said, the $9 billion would include a $5 billion strong domestic business and $4 billion in exports.

Shaw said the Indian biotech market during the current year was estimated at $500 million from about 200 firms.

Of the $4 billion exports projected by 2007-08, she said, $1.5 billion would be for clinical research, $1 billion in research and development outsourcing and $1.5 billion in clinical sciences.

The advantage for India, Shaw said, is its enormous intellectual capital, with about 30 lakh (3 million) graduates in life sciences, 700,000 post-graduates and 1,500 PhDs in biosciences and engineering.

"It is estimated that nearly 15 per cent of the scientists in pharmaceuticals and biotech R&D in the US are Indians, " Shaw said, adding that information, imagination and innovation were the drivers for the biotech industry.

"We have information, the curve is lower in imagination and we are doing good in innovation with start-up firms emerging in the sector," she said.

In the clinical research and trials field, Shaw said India's bio-processing skills, with past experience in fermentation and purification, would help in developing vaccines, therapeutics and recombinant medicines.

"India plans to differentiate itself through high value innovations and is improving collectively to address issues regarding intellectual property rights," she said.

7333: The Latest News on Your Mobile!

© Copyright 2005 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Share your comments

 What do you think about the story?

Read what others have to say:

Number of User Comments: 3

Sub: 1 mn jobs for scientists, engineers in 5 years

CII national task force on biotechnology and chairperson Bicon India Kiran Mazumdar Shaw said on Thursday. She and all higer up give large figures- but ...

Posted by Rajie

Sub: Need Focus on Bioprocess Engineering.

This is really a good news for a young biotechnogists for the new revolution of BT in india ,still we need more focus on bioprocess ...

Posted by senthil kumar

Sub: regarding jobs

I don't know why these people give false hope when there is no such thing as "good job" existing for the large Indian middle class. ...

Posted by Athreya Sundararajulu


Article Tools
Email this article
Top emailed links
Print this article
Write us a letter
Discuss this article

Related Stories

Biotech industry needs more VC

People Who Read This Also Read

'Pepsi, Coke contain pesticides'

BSNL to get Rs 18,515-cr aid

India, China sign MoU on power

Copyright © 2005 India Limited. All Rights Reserved.