Need $5 bn more to make biotech a $100 bn sector:Mazumdar-Shaw
10 February 2016 | News | By BioSpectrum Bureau
Need $5 bn more to make biotech a $100 bn sector:Mazumdar-Shaw
The investment in science and technology in India continue to be sub-optimal, said Biocon chairperson Kiran Mazumdar Shaw on Tuesday.
"Amongst all the countries who invest in science and technology, we are at a sub-optimal level," said Shaw at Bangalore India Bio.
Referring to South Korea which is leading investments in science and technology, she said: "I think India needs to basically up its game in science and technology through greater investments."
Biocon chairperson was speaking at the inaugural session of the 16th edition of Bangalore India Bio 2016. "India needs to invest $5 billion in biotechnology to achieve the target of growing the sector to $100 billion by 2025", she added.
"Today biotechnology is a $11 billion sector, growing at a compounded annual growth rate of 20 percent. We also are aspiring to be a $100 billion sector by 2025," she said.
