There is a need to equip biotechnology in pharmaceutical and agricultural sectors. We are the best in the world and we should not be in a defensive mode, said L Manshigh, principal secretary, Department of Industries and Mines, the Government of Gujarat.
He was inaugurating a biotechnology unit at the Pharmaceutical Education and Research Development centre here today.
"The Indian pharmaceutical industry and the health care system today stand at the threshold of a new era following economic liberalisation and reforms," Manshigh said.
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"Globally, pharmaceutical companies invest around 15 per cent of turnover in research and development (R&D), while Indian companies currently spend around 1.5 per cent in R&D. The pharmaceutical industry, in its attempt to adapt to the changing scenario, needs helping hand from the government to make India a global pharma player," he said.
"Gujarat has been playing a major role not only in the production of drugs and pharmaceuticals but also in earning valuable foreign exchange. At present, the state accounts for 45 per cent of the total national production and 30 per cent of exports. The rapid growth is coupled with expansion in technology, regulation and the market scenario in the world pharmaceutical sector and its increasing integration with global markets," he added.