The World economy growth is predated by IMF at 3.3% for this year which is not promising. The Trade wars between nations and the sanctions on oil import are creating conditions of recession.
Sectors like biotechnology offer a glimpse of hope to the world. Since 2000 the growth in this field has been promising with a greater number of drug approvals and research and developed.
In India, biotechnology has shown good performance. The pharmaceutical sector saw a growth 14% this month which forms a major part of its exports to different countries.
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The biotechnology rates in India is governed by —
- ICMR
- CSIR + [CCME]
- Mir of Science and Technology
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The promising accepts of biotechnology are because of its wide applications like –
- India has undertaken a project of gene sequencing of 1000 rural youth to study the effect of clearers.
- Recently the department of Biotechnology of India released grants to Centre for Cellular and molecular biology [CCMR] to produced consumable meat by cell growth. This will save money used in land, mater, feedstock requirement and boost the meat industry.
Moreover, the risk of desire due to salmonella, e.cote bacteria will be eliminated.
- Bitcoin ltd has produced a drug to fight breast cancer which will lead to women empowerment.
- Biotechnology can increase the production of alternative fuels like ethanol by using ‘saccharomyces cerevisiae’. This will ensure energy recently of India.
UK trade and investment Centre and Indian biotechnology interpreters have partnered for on reach a life saviour.
However, the challenges to biotechnologies.
- Increased expenditure in R and D required over a sustained period.
- Generic sequencing needs to be carried out with approvals.
- Generic drugs should be encouraged without patents.
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By 2015 the biotech industry is estimated to reach $100 billion. The opportunity available should be encouraged with open arms by the public and private sector of India.