The Technology Export Development Organisation (TEDO), started by the joint efforts of the Confederation of Indian Industry (CII) and the Department of Science and Industrial Research (DSIR), is in the process of identifying major technologies developed by small and medium pharmaceutical and biotech industries in India with a view to promote such developments in overseas markets.
Vineet Kumar Goyal, counselor - Technology & IPR, CII, told Pharmabiz, “TEDO is now in the process of identifying innovative technologies developed by Indian companies in the ISM and biotech sector, chemical and pharmaceutical industries. It has already tied up with the All India Biotech Association (AIBA) to promote nutraceuticals.”
Small-scale units in pharmaceutical industry are unable to make necessary investments in research and development. Often SSIs are not aware of financial benefits available to them. In order to assist and guide SSIs seeking funds, TEDO has tied up with EXIM Bank, Goyal informed.
There are various institutional support systems available to organizations from TIFAC and NMILTI programme, which are still not known to many of the units. CII is focusing on capacity building of SMEs. In spite of certain weaknesses, SSIs can work cost effectively, Goyal added.
India is recognized as a knowledge base, and the country is also becoming a destination for contract research activity. Companies are updating their technologies constantly. Pharmaceutical and biotechnology companies should focus more on innovation and R& D, he opined.