India has to gear up to be among the top five global biotech nations in the world. The 37 per cent growth garnered by the sector the country could achieve the top five slot without any problem, stated Dr. RA Mashelkar Director General of Council of Scientific and Industrial Research (CSIR), the largest chain of publicly funded industrial research institutions in the country.
In the Asia-Pacific region, Australia occupied the first slot, followed by India and China in biotech. Hence it would not be difficult for India to emerge among the top five global countries in the biotech.
Indian scientists have to work towards converting the present bio-hype into bio-hope for the benefit of common man so that they can reap the benefits, stated Dr Mashelkar during his keynote address 'Vision Talk' at the CEO Conclave of Bangalore Bio 2006.
"Biotech is not an end. It is a means to an end. It is to be used for welfare for common man and for wealth creation. Lot has been said about biotech. It is not a hype. We have to act fast to convert this hype into bio-hope."
Dr Mashelkar said with three great personalities occupying the highest offices in the country which include President Kalam ( scientist), Prime Minister Dr. Manmohan Singh (economist) and Union Minister of Science and Technology, Kabil Sibal, this was the right time for India to act fast, otherwise, it will be too late.
He also called upon the Indian Diaspora to help the country's biotech sector to move up to the next level. "The returning Indians have already added to the Indian resource pool. There are around 2 per cent of Indian Diaspora working in the Silicon Valley and earns equivalent to India's GDP. We are more interested in their knowledge base rather than the investment they could bring."
"We need to create some movement for transforming bio-hype into bio-hope and bio-activism into bio-rationalism through bio-entreprise, bio-wealth, bio-financing, bio-regulation and bio-education," he said.
The DG CSIR also called upon venture capitalists to take some risks, instead of treading on the beaten path. "They have to be adventure capitalist. If the venture capitalists can take some more risks, these entrepreneurs can definitely make a difference and take Indian biotechnology to a new level. The windows of opportunity is open and it will be open for only a short time."
After IT and BT, Bangalore will be the place for Nano Biotechnology. (NBT) However, Dr Mashelkar coined a new acronym saying NBT should refer to Next Best Technology or New Biotechnology. "India's strength lies in IT, not information technology but Indian Talent. Bangalore has lot of abundance and we should cash on it."