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In 2006, India was ranked 3rd in the South-Eastern Asia region after Korea and Japan on the basis of number of biotech companies (Ernst and Young). India has about 280 companies in biotech sector. Biocon was ranked India's largest biotech company and Rasi was the top Bt cotton producer in the group.
With a record growth rate of about 37.42%, Indian biotech industry has achieved market value of US$ 1.45 billion (Rs. 6521 crore). It has been growing at the pace of 35-40% for the last three years and is estimated to grow to US$ 5 billion by 2010. The immense potential of the sector is clearly visible from its growth rate. Growing numbers of research laboratories, pool of qualified scientific talent, widening institutional
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