Events

Of science and finance

Arshiya Khan - Mumbai

"It takes biotechnologists to evolve biotechnology. The driving force of this industry is not finance, its science," opined Dr Rajiv Datar, Director, Exogen and Biotechnology Consultant, at a symposium organised by American Bio Industry Alliance (ABIA) and Confederation of Indian Industry (CII). Titled as 'Benefits of the Bio-diversity and world outlook for the Indian Bio-industry', this is the first such platform organised by ABIA in India. Those present at the meet were experts from fields as diverse as pharma, legal, academics, medical practioners and media.

With the pharma industry growing in double digits, the very parallel biotechnology industry too is taking similar giant strides. It has grown from a promise to reality, with India now leading Asia in annual year-on-year growth of the biotechnology sector and approaching $2 billion in sales by mid-2007. The key reason for conducting this symposium was the growth of the biotechnology industry over the past five years. What are the factors that accelerate this growth? The India advantage of being cost competitive and possessing a vast scientific pool was the most common answer.

The debate goes on…

The much-debated topic of the day, Traditional Knowledge Transfer Laboratory (TKDL) garnered a stupendous response. How will TKDL benefit India and how India's traditional knowledge can become a billion-dollar industry? What are the pros and cons of patenting natural plants? There was a give-and-take of opinions on the issues which represented the industry vis-à-vis the Government's point of view. "There is much to applaud, and at the same time a great deal of work ahead to reach India's destiny as the biotechnology hub for Asia," observed Susan Finston, Executive Director of ABIA. "One area where greater awareness and understanding is needed is the role of India's biodiversity, and the enabling environment for sustainable development of India's genetic heritage and related traditional knowledge," she added.

Also present at the symposium were Jenifer Kispert, Senior Corporate Counsel (Intellectual Property Group, Patent Dept, Legal Division), Pfizer Inc Dr Ananda Mohan Chakrabarty, Department. of Biotechnology, University of Illinois, US. Sitaram B Shah, Senior member of CII, concluded the event by hoping that by working together the industry can help to illuminate important issues relating to India's bio-heritage and its importance for Indian biotechnology.

arshiya.khan@expressindia.com