Biotech aiming to be $100 bn sector by 2025: Biocon chief Kiran Mazumdar-Shaw

PTI Posted online: Saturday, Nov 16, 2013 at 0000 hrs
Neemrana (Rajasthan) : Indian biotechnology sector is looking to be a USD 100 billion sector by 2025, Biocon chief Kiran Mazumdar-Shaw said here today.

"We want to make Indian biotechnology a USD 100 billion sector by 2025. I really believe this can be done if we have right policies in place, right resources and right investments," Biocon Chairman and Managing Director Kiran Mazumdar-Shaw said.

She was speaking on the sidelines of the third convocation and fifth annual lecture of NIIT University.

Taking this road map is about delivering security like food security, health security and energy security and environment security, she added.

"Agri bio can itself provide a USD 40 billion sector, Already BT Cotton is a USD 7.5 billion sector for the country. If you allow other genetically modified crops it could be much bigger," Shaw said.

The government should allow the genetically modified crops. Without that the country cannot be food sufficient, she added.

"Moreover this would also lead to less use of pesticides which are very harmful. You need to reduce pests and pesticides and that can only be done with technology," Mazumdar-Shaw said.

If farmers are to become prosperous you need technology, she added.

"This can happen when you have investments in agri-bio, pharma-bio among others," Mazumdar-Shaw said, adding that "for this, we need enabling policies by the government."

Private sector needs the ease to conduct its business, she said.