Navigate
X

Biotechnology in Karnataka

    Raggi Mudde
  • 7 years ago
    • Categories: biotech

Karnataka has emerged as a leading player in India’s biotechnology revolution. Today, Karnataka is considered the biotech hub of the country. It is the preferred destination for biotech investment in the country. More than 60% of the biotech companies in the country have a base in Karnataka. The state is responsible for 50% of the total revenues being generated in the biotech sector in India.

Key factors influencing the growth of the biotechnology sector in Karnataka

The biotech sector in Karnataka is growing at an accelerated rate. Due to this, the state is witnessing enhanced investments and outsourcing activities. Among the major factors boosting the growth of this sector in the state are:

  • The presence of a strong resource base coupled with the advantage of having well-developed research capabilities in the state
  • The vast talent pool, skilled manpower, and infrastructure facilities
  • Cost-effective manufacturing facilities
  • SEZs in Karnataka that are exclusively focused on Biotechnology
  • The state has the largest biotechnology industry cluster in the country
  • The presence of a large number of life sciences start-ups in the state that boosts innovation in the biotech sector
  • Karnataka has a strong pharmaceutical sector that exports around 40% of the pharma production taking place in the state
  • Availability of government support for creating a conducive environment for growth and development of the biotech sector in the state
  • Exclusive biotech centres and parks planned in various cities and towns of the state including the Nutraceutical and Phyto Pharmaceutical Park at Mysore, Agri Biotech Park at Dharwad, Marine Biotech Park at Mangalore, and Vivarium at Bidar

Policies and initiatives by the state government

The Karnataka government is keen to establish the state as a competitive destination in the global biotech sector. The government is providing various incentives in the production facilities through the Karnataka State Industrial policy. It is a strategic plan that seeks to encourage and improve the state’s biotech start-up and innovation scenario. The fact that Karnataka organizes the biggest annual biotech-focused summit in India, The Bangalore India Bio Summit, also points towards the state government’s interest in boosting the state’s biotechnology sector. Some of the initiatives by the state government include the following:

  • Active single window clearance process for biotech projects, handled by the Karnataka Biotechnology and Information Technology Services (KBITS)
  • The Karnataka Biotechnology Council will maintain a complete database of patents to promote IPR and to help entrepreneurs protect IPR
  • Providing financial incentives and concessions under the Karnataka Industrial Policy
  • Setting up of a bio-venture corpus fund worth rupees 50 crores with funding from the state government and professional venture capitalist firms
  • Providing concession packages for mega biotech projects
  • Establishing biotech parks across various parts of the state
  • Bringing research labs under the umbrella of the green category
  • Encouraging Biotechnology (BT) finishing schools to help students acquire the skills needed to get employment in the biotech sector
  • Encouraging the development of bioinformatics in Karnataka

Investment opportunities for biotechnology in Karnataka     

As India’s pioneer of the biotech industry, Karnataka offers lucrative investment opportunities in the biotechnology sector. Some of the factors that highlight Karnataka as an investment destination for biotechnology are:

  • Concession in stamp duty and waiver of entry taxes
  • Subsidy for promotion of investments and exemption of conversion fine
  • No-interest loan on VAT
  • Subsidy for anchor units and interests
  • Concession in patent registration charges
  • Specialized SEZs focused on biotechnology
  • A comprehensive policy framework for biotechnology that offers a wide platter of incentives and concessions for the biotech industry
  • Availability of substantial resources and globally recognised research base
  • Skilled human resource that matches the requirements of the biotech industry
  • Strong educational infrastructure
  • Biotech finishing schools to bridge the gap between the academia and the needs of the industry

Karnataka has the potential to make its mark in the global biotech sector. With the Indian biotech industry growing quickly, the Karnataka state government is going all out to boost the state’s biotech sector. The coming years are expected to witness further growth of the biotechnology industry in the state due to the various factors mentioned above, including the support provided by the state government.

Some of the well-known companies 

Companies that provide equipment and solutions for the biotech industry

Industries in Karnataka

Tags: Biotechnology
Raggi Mudde:
Related Post