India has tremendous and growing potential for the biotechnology business. In 1997-98, the total biotech market in India was valued at US $ 500 million, growing to US $ 1 billion in 1998-99. It is estimated that the Indian biotech market should witness a growth of 150% to touch US $ 3 billion by the end of 2002.

India has a strategic advantage to carry out research in Life Sciences because of its vast genetic diversity. It provides a unique opportunity to discover the functional significance of human genome sequences through new patient analysis. The rich genetic resources could be used for population polymorphism scanning in addition to gene knockout studies to understand the relation of sequence to function. Thus functional polymorphism scanning could constitute a major activity of functional genomics in the post genome-sequencing era.

Our country’s unparalleled bio-diversity, deep tradition of ayurvedic medicine

(which has many of the same principles of molecular medicine) and the health issues of a billion people call for a major initiative in research. For India to acquire a leadership role in biotechnology in the post genomics era, the situation is now or never.

India has a large network of institutes and laboratories, backed by a large university system, imparting education & training in specialized fields of science & technology and involved in research & development of cutting edge technologies. It has a vast pool of scientists working in small groups on various biotechnology projects in a number of institutions spread all over India.

India also has a vast pool of IT professionals who, through their analytical and computational skills, diligence and dedication, have achieved a commanding position for the country in software development. A synergistic fusion between modern biotechnology research and IT would help India to carve out a niche for itself in modern biotechnology including genomics and bio-informatics; agriculture and plant biotechnology; molecular medicine; environment and bio-diversity; bio-fuels and bio-instrumentation. The vast pool of scientists along with IT professionals, can achieve for India a status in science and technology parallel to that achieved by IT professionals in the IT sector.

In computer software, India has now achieved wide recognition and worldwide acclaim. However, to maintain long-term sustainability and to achieve the software exports target of over US$ 50 billion, there is a growing need to invest in emerging technologies of life sciences. Having been recognized as an important international player in the IT outsourcing business, India is poised to take cognizance of this unique business opportunity.