Growing at an average rate of about 20 per cent, India's biotech industry comprising biopharmaceuticals, bio-services, bio-agriculture, bio-industry and bio-informatics could reach the US$ 7 billion mark by FY 15. Bio-pharma is the largest sector contributing about 62 per cent of the total revenue followed by bio-services (18 per cent), bio-agri (15 per cent), bio-industry (four per cent), and bio-informatics contributing (one per cent).
The bio-services sector accounts for revenue generation worth about US$ 636.73 million. By FY17, the Indian Biotechnology industry is estimated to increase to US$ 11.6 billion from US$ 4.3 billion in FY13.
Presently, India is ranked 12th in the world in biotech and second in Asia. The Indian bio-pharma exports grew by 25 per cent to US$ 1.4 billion in FY14.