Vijay Raghavan, Secretary, Department of Biotechnology, on Friday announced that India can emerge as a key provider of high-end analytics based on genomics big data at the 'Indian Economic Convention' organised by International Chamber of Commerce in association with Niti Aayog.
Felicitating the event, he said: "There is a big opportunity for India to both analyse and model genomics big data and to build mechanisms for using the analytics."
He further added that India should also look to build a sizeable pool of people who are trained to handle computational genomics.
Stating that most raw materials and equipment required for biotech research in India, Raghavan said that due effort should be made to promote the manufacturing of such equipments in India.
Vijay Chandru, Founder & Chairman, Strand Life Sciences added that the Indian biotechnology industry is currently of USD 5 billion size, whose two-third is accounted for by bio-pharmaceuticals.
Moreover, he also mentioned that the industry has resolved to grow to the level of USD 100 billion in 10 years, which can be achieved with a 30 percent CAGR. The industry has recorded 20 percent CAGR in more recent years.