Biotech firms export 50% output in FY03

 The fledgling Indian biotechnology industry exported 53 per cent of its output of Rs 1,830 crore in 2002-03.

 The industry expects to grow by 25-30 per cent in the current year and the Rs 600 crore invested in it is expected to double in two years.

 Altogether 6,400 people work in the industry, up 68 per cent on the previous year.

 These are the finding of the first ever survey of the Indian biotechnology industry conducted jointly by BioSpectrum, a Cyber Media publication, and ABLE (Association of Biotechnology Led Enterprises).

 The industry is made up of segments such as biopharma, bioagri and bioindustrial products, bioinformatics, and the clinical trials and contract research services.

 This survey does not include hybrid seeds and the sale of equipment (the suppliers to the biotech industry). If the suppliers business is included, the total industry turnover becomes Rs 2,305 crore.

 While the biopharma market has a ratio of 52:48 in favour of exports, bioservices and informatics exports close to 85 per cent of its output.

 The survey lists India