The country’s biotechnology industry, for the fiscal year 2006-07, registered a 30 per cent growth and touched $2 billion (Rs 8,300 crore) revenue mark as against $1.45 billion (Rs 6,485 crore) in the previous year 2005-06 and Rs 4,745 crore in 200405.
Addressing the BangaloreBio 2007, State Vision Group Chairperson Kiran Mazumdar-Shaw said the industry revenues doubled from $1 billion of the previous year was well on track to meet the $5 billion target sought to be achieved by 2010. Sectorwise within the biotech industry, Ms Mazumdar-Shaw said, biopharma crossed the $1.4 billion (Rs 5,600 crore) in fiscal 2006-07 (previous $1 billion (Rs 4,700 crore) registering a 20 per cent growth.
While bioservices sector touched $250 million (Rs 1,000 crore), she said, bioagri sector scored globally notching up highest global rate at 50 per cent to cross $250 million (Rs 1,100 crore) as against Rs 580 crore in the previous year.

Good investments
The bioindustrial segment saw a 20 per cent growth at Rs 400 crore (Rs 375 crore previous) and bioinformatics too 20 per cent growth at Rs 130 crore (Rs 110 crore). In this regard, Ms Mazumdar-Shaw pointed out that, biotech exports from the State was around Rs 1,991 crore accounting for 55 per cent of the country’s total biotech turnover.
Stating that the biotech sector had attracted investments to the tune of Rs 2,270 crore in 2006-07 registering a 37 per cent increase over previous year’s Rs 1,650 crore, she said, Bangalore alone saw Rs 1,000 crore investment. Exhorting private and public sector to play more active role in venture capital funding of biotech units, she called upon the industry come out of its generics and services mindset and take to innovation in a big way. 
She also stressed the need for setting up of large animal house facilities and better regulatory mechanism.