US$10 billion for Indian biotech by 2010
India's biotechnology industry hopes to generate one million jobs and investments of US$10 billion by 2010, according to a statement made by industry officials on 11 July. It will rely on low-cost, highly-skilled workers to achieve this goal.
About 25,000 workers are employed in India's biotechnology industry, which currently has some US$2 billion in investments. One fifth of the workers are based in the state of Karnataka, whose capital, Bangalore, is positioning itself to become the nation's centre for biotechnology.
Indian industry figures hope that the country's entry into a global patent regime under the auspices of the World Trade Organisation will lead to increased investment in biotechnology.