It earned a revenue of Rs. 6,521 crore during 2005-06
BANGALORE: The Indian biotechnology industry has registered a revenue growth in excess of 35 per cent for the third consecutive year, according to results of the fourth BioSpectrum-ABLE biotech industry survey.
Releasing the survey report at the inauguration of "Agri-biotech Day," organised as part of "Bangalore Bio 2006," BioSpectrum Publisher Naraya Suresh said that during 2005-06, the industry grew by 37.42 per cent to earn Rs. 6,521 crore in revenue. The bio-pharmaceutical sector crossed the $1 billion mark, he added.
Mr. Suresh said the biotechnology industry, which started to gain size in the 21st century, was still dependant on exports for over half its revenue. Its share of exports had increased marginally from 48.5 per cent to 51.5 per cent in 2005-06, accounting for Rs. 3,357.17 crore, he said.
The report of the survey conducted in April-May 2006 showed that bio-pharmaceutical exports accounted for 74.33 per cent of total exports and brought in revenue of Rs. 2,495.24 crore. Bio-agriculture's share of exports was the lowest at 1.07 per cent and brought in Rs. 35.88 crore as revenue. Revenue from bio-services overseas was Rs. 684 crore. Investment in the industry increased from Rs. 1,215 crore in 2004-05 to Rs. 1,650 crore in 2005-06.