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'BT sector to generate over one million jobs by 2010'

Written by: Staff
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Bangalore, June 5 (UNI) The burgeoning bio-technology sector in the country is expected to generate over a million jobs in agriculture, pharmaceutical and medical segments by 2010, BT major Biocon India Chairperson and Managing Director Kiran Mazumdar-Shah informed today.

Briefing newspersons on the sixth edition of the three-day international mega event Bio-2006 from June seven here, she said the sector had the potential to touch business worth over five billion US Dollars by 2010.

Dr Mazumdar-Shah, also the Chairperson of Karnataka Vision Group on Biotechnology, said that despite facing shortcomings in the form of inadequate infrastructure facilities and skilled labour, the biotech industry in the country was poised to make big strides. The country had better opportunities in the sector by offering clinical research, clinical services, R and D and development of medicines.

It also had huge potential to offer in the field of agriculture sciences, genetically modified crops and related areas.

She said biotech industry was growing at the rate of over 30 per cent per annum and appreciated the Karnataka Government for taking the initiative to set up the country's first Biotech park in the city at a cost of over Rs 103 crore. The industry, a capital intensive sector, needed all cooperation and support from the Governments concerned, she opined, lauding the Karnataka Government for taking interest in the growth of biotech activities.

She said the main focus of the Bio event would be agricultural biotechnology as the country was making rapid strides in the sector.

Agri-Biotech day at Bangalore Bio-2006 had been conceptualised to strengthen transnational partnerships and it would throw light on the recent advances in molecular genetics, informatics and genomics research that had created many new possibilities for applying biotechnology in agriculture. Leading bio companies, academicians, scientists and all stakeholders would participate in it, she added.

Karnataka IT and BT Principal Secretary Anup K Pujari, who also spoke, said the State's decision to approve setting up of bio-tech park and release necessary funds for the venture capital fund for the IT and BT industry would provide the required fillip to the sector. Tenders have been finalised for the civil works of the proposed biotech park, he said, exuding confidence that within 18 months the building would be ready for the biotech park.

He said the proposed biotech park would house the country's first human genetic centre, common facilities for incubation and research and development centres and related amenities.

UNI MV GD GM1655

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