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Deccan Herald » Business » Detailed Story
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Scotland may set up second India office in Bangalore
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From Kalyan Ray
DH News Service New Delhi:
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The country is wooing the Indian industry in a major way for setting up shops in scottish highlands so that Indian companies can play a competitive role in the European market.
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With southern India emerging as a critical node in pharma and biotech research, Scotland plans to set up its second India office in the south — Bangalore, Chennai and Mumbai are the three contestants — with the aim of attracting foreign direct investment from India.
This is a part of an ambitious Scottish scheme under which the autonomous region inside the UK has decided to woo the Indian industry in a major way for setting up shops in scottish highlands so that Indian companies can play a competitive role in the European market.
“We are looking at Chennai, Bangalore and Mumbai and will take a decision within three months,” Shivendra Singh, country manager for Scottish Development International (SDI) — a joint initiative between Scotland Executives and Scotland Enterprises — told Deccan Herald.
The outfit having only one office in India so far besides a string of set-ups in the Asia Pacific region is talking to at least 10 major Indian drug and pharma companies for establishing research ventures as well as manufacturing facilities.
One of the successful deal brokered by SDI involves Biocon, whose chief Mrs Kiran Mazumder Shaw’s husband is a Scot.
In 2003, the biotech major announced that it will work with Hannah Research Institute of Scotland and its offspring venture, FFAST Solutions Ltd, to develop an oral insulin based on Hannah’s proprietary technology.
After the Biocon success, SDI that also works on bringing foreign direct investment on IT and financial sectors, plans to put extra emphasis on the emerging life sciences sector. Presence of noted universities in Edinburgh, Glasgow and Dundee helps SDI to convince Indian companies that there will not be any dearth of talented researchers and facilities nearby — a must for the life sciences sector.
“Drug discovery, stem cell research, diagnostics, clinical research and bioinformatics can be some of the areas for joint work. For larger companies (having more than 5,000 employees) we will fund 25 per cent of the R&D work. Also SDI will facilitate flow of venture capital,” Mr Singh said.
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Wednesday, April 20, 2005
