Sunrise Industry

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  • Topic: Biotechnology, Information technology in India, Economy of India
  • Pages : 17 (3931 words )
  • Download(s) : 50
  • Published : July 31, 2010
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BY

ASHISH JAIN (NM COLLEGE) – 9820842680

SUBJECT: ECONOMICS

E-mail id: ashish1310@gmail.com

One Delhi based headhunter described it, “the current job scene is filled with rampant optimism.” And then he adds that almost every company seems to be “buying people” these days. Our optimism headhunter hasn’t really revealed sensitive information on shady defense deals, so what explains his hesitation to come on record? While he is still sure about the future, there is the apprehension that he might be forced to eat crow due to short term titanic events.

“It was just take an Iraq war for the party to end,” says Rajeev Thakur, CEO, Grassik consultants, who quickly add that the Indian job market has expanded by 30-40 percent since last year. So what’s really happening out there and what kind of jobs are up for grabs?

Well the sunrise industries do speak it all for them. Yes the sunrise industry is the future industry and they will offer immense job opportunities for skilled as well as unskilled persons. The biggest sectors where there in expected sunrise are in biotechnology and the I.T enabled services. Apart from these the others are telecom, retail business, insurance, housing finance, tissue culture, flori culture, aqua culture and the like. Now let’s see some of these in brief.

BIOTECHNOLOGY

If Information technology marked India’s debut into the global big league, biotechnology is being tipped to be the next big thing, which could help the country firmly establish itself on the global science and technology map. Going by the report of industry and research bodies, the sector holds immense potential for India’s economy.

GLOBAL BIOTECH DEVELOPMENT – INDIA’S ROLE:

Given India’s share at only 2% in the global biotech market, her role in the field of biotechnology has till now been a supplementary one. The country has trained and supplied high quality human resources and scientists for U.S universities and biotech industry. “The Indian industry has played the role of being a provider of skilled professionals in the biotech industry, especially in collaborations with institutes abroad.

Recent times have also seen many mergers and tie-ups between Indian industry and global corporations. This is just the beginning. The future will witness more such collaborations and alliances particularly between biotech companies to accelerate the process of commercialization and to cut down the costs.

With the world recognizing the plethora of Indian intellect in the country and the international intellectual property rights coming into play after 2005, the stage is all set for the Indian biotech companies to take the genomic battle to the global war field and play a significant role in the development of the industry worldwide.

COMPARISION INDIA AND CHINA IN BIOTECHNOLOGY

Low cost R&D capabilities, speed of innovation and the value of IPRs are going to be the key factors in determining success in biotechnology. It is inevitable that in this context, china and India will compete for leadership position in the region. India has the “English speaking” advantage while china has the “mindset advantage.” China already has an early mover advantage in that it has taken proactive as well as pragmatic steps in biotechnology by being a key participant of the Human Genome Project, embracing GM crop technology and encouraging recombinant therapeutics in its healthcare programs. In contrast India is still grappling with ethical and moral issues relating to clinical research, safety issues surrounding GM crops and debating the merits.

India has better capabilities in Pharma/biotech, while china has strong manufacturing capabilities and in sequencing as well as in doing genomics and proteonomics based research.
India is perhaps better placed from the point of view of the setup of research institutes and the strength of computer proficiency than china. There are more than 400...
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