Question: Currently, India’s biotech industry holds what percent of the global market share?
(a) 2%
(b) 3%
(c) 4%
(d) 5%
Ans: (a)
Related facts:
- On 18 January 2017; Ministry of Commerce and Industry’s Department of Industrial Policy and Promotion (DIPP) released Achivement Report of Biotechnology Sector under in Make in India.
- The sector in India, which is currently growing at 20%, is expected to go up to USD 11.6 Billion by 2017.
- The focus is on making the Indian biotechnology sector reach USD 100 billion by 2025.
- Currently, India’s biotech industry holds 2% of the global market share and is the third largest in the Asia-Pacific region.
- India’s first cellulosic ethanol technology demonstration plant developed through indigenous technology was inaugurated on April 22, 2016.
- First indigenously developed and manufactured Rotavirus vaccine ‘Rotavac’ launched by the Hon’ble Prime Minister on March 9, 2015.
- 100% FDI is allowed under automatic route for Greenfield projects for pharmaceuticals; for Brownfield projects, 74% FDI is permitted under the automatic route.
- The National Biotechnology Development Strategy 2015-2020 was launched on December 30, 2015.
- Andhra Pradesh launched its Biotechnology Policy 2015-2020, Gujarat launched its draft Biotechnology Policy of the State for 2016-2021, Rajasthan launched Biotechnology Policy 2015 with an aim to establish world class research institutes and bio-manufacturing infrastructure and Telangana launched the Life Sciences Policy (2015-2020).
- The Government aims to scale-up the number of start-ups in biotechnology sector to 2,000 over next three years.
Reference:
http://pibphoto.nic.in/documents/rlink/2017/jan/p201711802.pdf