Thursday, July 17, 2008

Pune: Emerging biotech center in India

After Hyderabad, Pune is rapidly emerging as the next biotech center in India. Even though the country presently holds a minimal market share of 2 per cent of the global biotech market, it has immense potential to develop as a key player by 2010 and is expected to generate $5 billion revenues, creating employment for a million by 2010

"So far Pune has been perceived as the hub for IT and auto industry but we have seen tremendous increase in response from job seekers in the Biotech and pharmacy sector. We have received about 1522 numbers of resumes for Biotech and medical research and about 633 numbers for Pharmaceutical and pharmacy job postings in the last three months", says Mr. Saurabh Shroff, Head Marketing, myjobsinPune.com

"In the last few months the number of biotech professionals posting resumes at myjobsinpiune.com has increased by roughly 30 percent", Mr. Shroff added further. With biotechnology industry registering over 35 percent growth in the last few years, this industry is seen as one of the key attributes that will contribute to the socio-economic growth of the state.

Companies like Emcure pharmaceuticals, Shreya Biotech and Lupin have set up their biotech parks and R&D centers of about 14 acres, 15 acres and 19 acres of area respectively in Pune. Also Mumbai based Hikal Ltd. has invested about Rs. 30 crores in its facility at the Pune Biotech Park. Apart from this MIDC & The Chatterjee Group (TCG) in a joint venture has developed, promoted and marketed the International Hinjewadi Biotech Park, in Pune.

The revenue from the biotech industry has been increasing steadily. The revenue has gone up to Rs 8541 crore during 2006-07 from Rs 4745 crore during 2004-05. The allocation for Biotechnology had been hiked to Rs 6500 crore for the eleventh plan period from Rs 621 crore during the ninth plan.

The biotechnology is a fast emerging sector and will play a key role in the new economy. Pune is well known for its established IT sector and with more and more pharma companies targeting Pune as their base for biotech parks.

According to an industry report, the city has gained attention from the government and the industry in attempt to provide conducive environment to foster biotech development. The government is trying to boost the sector by providing sector-specific promotion policy and requisite infrastructure in terms of various biotech parks and SEZs that are coming up in these cities.
Pune: Emerging biotech center in India

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