The biotechnology (biotech) industry is one of the potential industries in India. According to the Government of Andhra Pradesh ‘Biotechnology Policy 2015 – 2020’, there are plans to develop Visakhapatnam as the biotech hub of Andhra Pradesh. The state has a lot to offer including its robust infrastructure including a good road network and four major ports. Moreover, its skilled manpower is applaudable. The central and state governments are putting projects and works are in place to make Andhra Pradesh open to biotech investments.
According to the Ministry of Science and Technology, Department of Biotechnology, “biotechnology has created a lot of employment especially in agriculture and allied sectors. With a large number of multinational and bio-pharma companies initiating their R&D and manufacturing operations in India, the demand for biotech incubators has increased.”
The ‘Biotechnology Policy 2015 – 2020’ highlights India among the top 12 biotech destinations in the world and third in the Asia-Pacific region. Focusing on Andhra Pradesh, the report states that, “the state is heavily investing in life science parks and life science knowledge and incubation centers which will not only breed technology and foster innovation but also help develop a synergy between IT, academia, industry, hospitals and R&D labs.”
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Furthermore, the policy aims to:
- Attract new investments worth Rs6,000 crore in the sector by 2020.
- Boost competitiveness of the sector to make Andhra Pradesh one of the most preferred destinations for biotech investments.
- Create additional employment opportunity for 5,000 skilled personnel in the industry by 2020 and 10,000 people by 2025.
The state government has shown a very keen interest and has brought about ease of doing business. It has eased labor laws in terms of working hours and work schedules. The ‘Biotechnology Policy 2015 – 2020’ highlights that, “a guidance cell will be set up under Andhra Pradesh Biotechnology Committee (APBC) to assist and advice the business units on regulatory compliance and procedures. The guidance cell will offer advice on the process of filing applications, guidelines etc. in addition to disseminating information on the different regulations with amendments from time to time.”
All these and more can only be effective through a coordinated and concerted effort. The potential of the biotech industry is yet to be achieved and can only be done through ongoing consultations and works. The biotech industry will surely take India to greater horizons.