Indian biotech companies will emerge as real innovative companies by 2010, having their own identity in each area of their specialisation. To make this possible, the Indian Government should make key policy improvements such as implementing bankruptcy rules, appreciating risk taking, enforcing confidentiality, and bringing in single-window clearance system, Dr Krishna M Ella, chairman and managing director, Bharat Biotech International Limited.

However, Indian biotechnology industry is expected to face many challenges in its path of growth, experts warn.

Industry may suffer with shortage of skilled manpower, high attrition rate, insufficient biotech entrepreneurs, difficulties in the technology development, in the next three to four years, said Dr K Koteswara Rao, chairman and managing director, Transgene Biotek.

Dr Rao mentioned, the curriculum in biotechnology courses should up updated as per industry requirements. The industry is ready to train the candidates once they are hired but they are expected to have knowledge on critical aspects that concern the industry most.

Varaprasad Reddy, managing director, Shantha Biotechnics, said, the country's biotech industry has been waiting for a biotech regulatory authority for many years. The DBT along with the industry has realized the need for such an authority, which is expected to take shape soon. The authority can bring in more clarity in the regulations required for getting product approvals.