The Hindu : Andhra Pradesh / Hyderabad News : YSR keen on giving a boost to biotech

Online edition of India's National Newspaper
Saturday, Feb 11, 2006

Andhra Pradesh

Andhra Pradesh - Hyderabad

YSR keen on giving a boost to biotech

Special Correspondent

Promises investors all facilities in the State

HYDERABAD: Chief Minister Y.S. Rajasekhara Reddy has invited entrepreneurs to invest in biotechnology sector in the State.

Participating in the CEO Conclave organised by reputed professional services firm Ernst & Young here on Friday, he said that the sector, being a vast one, demanded best efforts and the Government had taken several initiatives like promoting world class infrastructure for the development of the segment. Besides announcing proactive policies, the Government was taking steps to promote research and development facilities as well as manufacturing units.

Giving due recognition to the Government's proactive stand, the Central Government had announced that the Fab City would be located in Hyderabad, he said thanking the Union IT and Communications Minister, Dayanidhi Maran, for supporting the efforts of the Government.The Chief Minister also asked the representatives of the newly set up unit of the US Pharmacopeia to work closely with the Indian pharmaceutical industry for promoting manufacture of good quality medicines and dietary supplements.

The hurdles

Meanwhile, champions of the Indian pharma and biotech industry including Kewal Handa of Pfizer, Habil Khorakiwala (Wockhardt), Andrew Mascarenhas (OneWorldHealth) and Krishna Ella (Bharat Biotech) expressed concern over the slow pace of growth in the biotech industry in the country.

There were several factors facing the segment including lack of funding from venture capitalists, regulatory concerns and differential treatment being meted to the sector. The absence of institutions to cater to the human resource needs of the field and other challenges need to be addressed if the country were to make strides in the segment, they said.

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