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Indias last three budgets, which can be seen as statement of economic policy, have focused on two major principles: to portray India as an attractive destination for capital, and increase in public spending to raise returns and attract private investors.
Uncertainty has descended upon the $150-billion Indian outsourcing industry in anticipation of the protectionist regime under President Trump. Protectionism has been a popular election rhetoric across nations, and more so in recent times. And the voting masses seem to like it. Will Trumps campaign cry for protectionism cross the boundaries of poetic drama and come alive as laws?
- India is among the top 12 biotech destinations in the world and is the largest producer of recombinant Hepatitis B vaccine.
- India had recently overtaken Canada to emerge as the fourth largest country to grow biotech or genetically modified (GM) crops, as farmers here planted Bt cotton in about 11 million hectares.
- The Indian biotech industry holds about 2% share of the global biotech industry.
- The Indian biotechnology sector is expected to grow from the current $ 5-7 billion to $100 billion by 2025 by doubling the growth rate of this sector from 15% to 30%.
- Growing at an average rate of about 20%, India's biotech industry comprising biopharmaceuticals, bioservices, bioagriculture, bioindustry and bioinformatics could reach the $7 billion mark by 2015.