{"id":52642,"date":"2019-09-27T17:52:11","date_gmt":"2019-09-27T12:22:11","guid":{"rendered":"https:\/\/blogadmin.forumias.com\/?page_id=52642"},"modified":"2019-09-27T17:52:19","modified_gmt":"2019-09-27T12:22:19","slug":"answered-examine-how-biotechnology-sector-can-emerge-as-engine-of-economic-growth-and-societal-change","status":"publish","type":"page","link":"https:\/\/forumias.com\/blog\/answered-examine-how-biotechnology-sector-can-emerge-as-engine-of-economic-growth-and-societal-change\/","title":{"rendered":"[Answered] Examine how Biotechnology sector can emerge as engine of economic growth and societal change?"},"content":{"rendered":"\n
Demand of the question<\/strong>
Introduction. <\/strong>Contextual Introduction.
Body. <\/strong>Potential of biotechnology sector as a growth engine.
Conclusion. <\/strong>Way forward. <\/td><\/tr><\/tbody><\/table>\n\n\n\n

India is among the top 12 biotech destinations in the world and ranks third in the Asia-Pacific region. The biotechnology sector of India is highly innovative and is on a strong growth trajectory. The sector, with its immense growth potential, continue to play a significant role as an innovative manufacturing hub. The sector is one of the most significant sectors in enhancing India’s global profile as well as contributing to the growth of the economy. <\/p>\n\n\n\n

Potential of biotechnology sector as a\ngrowth engine:<\/strong><\/p>\n\n\n\n

  1. India has no dearth of talent in biotechnology,\nas a number of institutions, both government and autonomous, provide the\nnecessary opportunities for the students seeking to obtain a degree in this\nsector. The Government of India has provided adequate scope to this sector by\nproviding facilities for Research and Development (R&D) in the field of biotechnology.<\/li>
  2. The Indian biotech industry holds about 2 per\ncent share of the global biotech industry. The biotechnology industry in India,\ncomprising about 800 companies, is expected to be valued at US$ 11.6 billion in\n2017. <\/li>
  3. The high demand for different biotech products\nhas also opened up scope for the foreign companies to set up base in India.<\/li>
  4. India has emerged as a leading destination for\nclinical trials, contract research and manufacturing activities owing to the\ngrowth in the bio-services sector.<\/li>
  5. Biotechnology can usher in a second Green\nRevolution with unprecedented opportunities to ensure food security along with\nthe economic well-being of the farmer. Indian farmers have increasingly opted\nfor Genetically Modified Bt cotton seeds to enhance productivity.<\/li>
  6. Agricultural biotechnology is working on crop\nbreeding for the selective propagation of genes that improve yields and resist\ndisease.  The technology also helps\nproduce pathogen-free plants and address soil imbalance issues.<\/li>
  7. Biotechnology and more explicitly, fermentation\ntechnology can help boost India\u2019s manufacturing sector in a significant way.<\/li>
  8. Fermentation-based manufacturing supports\nproduction of antibiotics, vaccines, bio pharmaceuticals, enzymes, alcohol,\nfoods and biofuels. India has global scale in many of these but the true\npotential remains unrealised. A focused policy thrust can build global prowess\nand generate millions of jobs.<\/li>
  9. At a time when companies in the developed world\nare challenged with spiralling R&D costs and loss of patent protection on a\nnumber of blockbuster drugs, India can effectively position itself as the\n\u201claboratory\u201d for the world for developing affordable drugs, vaccines and\ndiagnostic.<\/li>
  10. Biomanufacturing, together with our large\nchemical synthesis-based pharma and petrochemical industries can build an\nindomitable position for India.  It can\nmake us a resource base for biofuels, petrochemicals and fertilisers. It can\ncreate a plethora of jobs it creates for engineers, scientists, technicians and\nentrepreneurs. <\/li><\/ol>\n\n\n\n

    India should pursue a strategy of scale based on technology-driven manufacturing. This will create a core manufacturing sector based on high-end expertise, fed by ancillary manufacturers that rely on simple technical skills. With the country offering numerous comparative advantages in terms of R&D facilities, knowledge, skills, and cost effectiveness, the biotechnology industry in India has immense potential to emerge as a global key player.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Demand of the question Introduction. Contextual Introduction. Body. Potential of biotechnology sector as a growth engine. Conclusion. Way forward. India is among the top 12 biotech destinations in the world and ranks third in the Asia-Pacific region. The biotechnology sector of India is highly innovative and is on a strong growth trajectory. The sector, with… Continue reading [Answered] Examine how Biotechnology sector can emerge as engine of economic growth and societal change?<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":49132,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-52642","page","type-page","status-publish","has-post-thumbnail","hentry","entry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/52642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=52642"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/52642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/49132"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=52642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}