Financial Daily from THE HINDU group of publications
Tuesday, Apr 16, 2002
Financial Daily from THE HINDU group of publications Tuesday, Apr 16, 2002 |
|
|
|
|
|
Agri-Biz & Commodities
-
Bio-tech & Genetics Survey sees Karnataka topping in biotech funds Our Bureau
BANGALORE, April 15 IT'S official: Karnataka is now the leading State in biotechnology as well as infotech, accounting for a chunk of investments and resources in the sector. The verdict comes from both, the official spokesperson of the country's biotechnology sector and a CII-Vision Group on Biotechnology survey of the Indian States. At the `Bangalore Bio2002' which opened here on Monday, Dr Manju Sharma, Secretary, Department of Biotechnology, said ``there is no other State with the resources, expertise or infrastructure that Karnataka has in biotech.'' DBT would financially support any new initiative of the State to set up more facilities, she said. The joint survey has found that in the past decade, Karnataka has received the biggest venture capital funding in biotechnology ventures among the States, according to Ms Kiran Majumdar-Shaw, CEO of Biocon India, Chairperson of the CII Biotech committee and the Karnataka Vision Group. About 72 biotech projects are now in Karnataka, with a venture capital of over Rs 70 crore in the past two years, and making a total revenue of Rs 700 crore, of which Rs 250 crore comes from exports.The 50-acre biotech park in the State capital will get off the mark in May, with an investment of Rs 5-10 crore, near the proposed international airport at Devanahalli. DBT is also expected to fund it. Dr Sharma said in the one year after Bio 2001, Bangalore has catapulted as the biotech capital of India. At least ten companies have come up.. In the year ahead, investments of Rs 300 crore will be coming from majors as AstraZeneca, Aurigene, Biocon and Sartorius, along with many more start-ups. Supporting the nod for Bt cotton, the Chief Minister, Mr S.M. Krishna, said Indian farmers should not be denied the benefits of such products. This is the second edition of the State's biotech event.
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|