'Indian biotech industry to top $10 bn by 2015'

Positive triggers would propel India's biotech sector to become a $10 billion industry by 2015, Chairman and Managing Director of Biocon Kiran Mazumdar-Shaw said today.

The biotech industry veteran expects the industry to grow to $5 billion by next year.

"By 2015, we expect it to become a size of $10 billion," Mazumdar-Shaw told reporters.

India's biotech industry is at an inflexion point, has attained "critical mass" and created a platform that allows it to leapfrog and delivery exponential growth, she said.

"India is today becoming the vaccine capital of the world. Bio-manufacturing offers a huge potential and already, there are indications that many global contract manufacturers announced they will be shifting their base from Europe to Asia. I think India will be one of the beneficiaries of that particular strategy", Mazumdar-Shaw said.

Clinical trials, agri-biotech and bio-fuels are becoming big opportunities for India, she said.

"There are a lot of growth drivers and trigger points which we think, will deliver in the next five years."