Indian Biotech Industry To Touch US$ 5 Billion Mark By 2010

In India, the biotechnology industry is fast emerging. Over the last two decades, India has developed adequate infrastructure and trained manpower in modern as well as classical biotechnology. This is primarily due to active support of Department of Biotechnology (DBT), Government of India. Today, India has an edge over other nations due to the low cost of operations, skilled human resource base, large network of research laboratories and abundance of raw materials in the form of plant, animal and human genetic diversity.

Apollo Enters Healthcare Biz

Apollo Tyres on Thursday announced its foray into the healthcare sector, with plans to set up a 500-bed hospital project in Gurgaon.

Medical insurance is growing at a clip of 30% a year but further opening of the sector to foreign direct investment and a tariff-free regime may well provide a booster dose.

Until about five year ago, PSUs were offering health insurance as part of their product portfolio under the brand name Mediclaim. With the government opening up the sector to private players, such companies as ICICI, Lombard, Bajaj Allianz, Royal Sundaram and Aviva have joined the fray.