India.

India: Growing at 40% annually, India's biotech industry generates one billion revenues, an increase from $700 million in 2003-2004. The World Health Organization ranks India as the fourth largest producer of pharmaceuticals, with 66.7% of its exports going to developing countries. Biocon, the

largest biotech company in India, had revenues of $148 million in 2003-2004, a 29% increase from the previous year. India's government is among the biggest supporters of the country's biotech industry. The Department of Biotechnology (DBT) plans to establish a biotech industry with revenues of $5 billion per year, creating one million jobs by 2010. DBT also wants to bring more foreign-owned companies to India by making the process for setting businesses in India easier. And DBT, along with the Ministry of Information Technology, hopes to construct India's first biotech/IT park. Problems continuing to face India's biotech industry include strong competition from large multinational companies and the need to import most research instruments. Also, much of India's biotech workforce is not familiar with the latest biotech techniques and advancements. To combat this problem, Indian biotech companies are trying to recruit skilled scientists from around the world.

Source: Nature