Indian biotech sector revenues surge 37%

The Indian biotech sector is growing at 37.42 per cent and inched closer to $1.5 billion in revenues during 2005-06. The bio-pharma segment still dominates this sector with $1 billion in revenues.

Addressing the inaugural session of BangaloreBio 2006, Kiran Mazumdar Shaw, chairperson of the Karnataka task force on biotechnology, said all segments such as bio-pharma, bio-services, agri-bio, bio-informatics and industrial biotech have seen good overall growth.

Within this overall growth scenario, the western region dominates, generating 50 per cent of Indian biotech revenues.

The region also witnessed 50 per cent growth to touch Rs 3,234 crore, followed by the southern region growing at 37 per cent to touch Rs 2,367 crore and the northern region growing by 15 per cent to reach Rs 920 crore in revenues.

Karnataka has developed itself to become the biggest bio-cluster in India with 175 companies having set up base out of the country's 320. In Bangalore alone, 158 companies have their base.

"Of the 28 new companies set up in 2005-06, 27 are based in Karnataka," said Shaw.

The bio-pharma segment witnessed a growth of 31.88 per cent over last year to touch Rs 4,708 crore. This segment had clocked revenues of Rs 3,570 in 2004-05 and Rs 2,752 crore in 2003-04.

Following the bio-pharma segment is bio-services growing at 69.29 per cent with revenues of Rs 720 crore during 2005-06. Bio-services clocked revenues of Rs 425 crore in 2004-05 and Rs 275 crore in 2003-04.

Agri-bio with a lot of buzz around introduction of transgenic crop varieties grew at 81.21 per cent to touch a revenue of Rs 598 crore in 2005-06. This segment clocked revenues of Rs 330 crore in 2004-05 and Rs 130 crore in 2003-04.

With demand for organic industrial inputs growing, industrial biotech grew by 17.19 per cent to touch 375 crore in 2005-06. This segment clocked revenues of Rs 320 crore in 2004-05 and Rs 238 crore in 2003-04. The bio-informatics segment grew by 20 per cent to touch Rs 120 crore in 2005-06.