Indian Biotech Industry To Touch US$ 5 Billion Mark By 2010
In India, the
biotechnology industry is fast emerging. Over the last two decades,
India has developed adequate infrastructure and trained manpower in
modern as well as classical biotechnology. This is primarily due to
active support of Department of Biotechnology (DBT), Government of
India. Today, India has an edge over other nations due to the low cost
of operations, skilled human resource base, large network of research
laboratories and abundance of raw materials in the form of plant,
animal and human genetic diversity.
Enters Healthcare Biz
Apollo Tyres on
Thursday announced its foray into the healthcare sector, with plans to
set up a 500-bed hospital project in Gurgaon.
Medical insurance is growing at a clip of 30% a year but further
opening of the sector to foreign direct investment and a tariff-free
regime may well provide a booster dose.
Until about five year
ago, PSUs were offering health insurance as part of their product
portfolio under the brand name Mediclaim. With the government opening
up the sector to private players, such companies as ICICI, Lombard,
Bajaj Allianz, Royal Sundaram and Aviva have joined the fray.