The biotechnology industry in India is likely to see a significant increase in the merger and acquisition (M & A) activity, according to research firm Grant Thornton. The Indian biotech industry has crossed the US $3 billion mark in 2010, witnessing a 23 per cent growth over the previous year. Of this, while the share of domestic firms stood at 47 per cent, exports accounted for 53 per cent of the overall revenues. India's highskill and low-cost advantage is said to have helped in gaining export contracts and clinical research bioservices.
The Indian biotech industry grew threefold in just five years to report revenues of US$3 billion in 2009-10, a rise of 17 per cent over the previous year, according to the eighth annual survey conducted by the Association of Biotechnology-Led Enterprises (ABLE) and a monthly journal, BioSpectrum, based on inputs from over 150 biotech companies.
What is effect of biotechnology towards the Indian market?