India is the 3rd largest biotech destination in the Asia Pacific Region.
India – a biotech growth catalyst India is among the top 12 destinations for biotechnology in the world, with approximately 3% share in the global Biotechnology industry. The Biotechnology industry in India, comprising about 800 companies, is estimated to have grown at a CAGR of 20.3% during 2005-17, to reach $ 11.6 bn in 2016-17. India has the second highest number of US Food & Drug Administration (USFDA)-approved manufacturing plants outside the US.
The country is currently home to more than 523 USFDA approved drug manufacturing facilities. By 2020, bio-incubation space of 175,000 sq. ft. has been planned with the target to support 50 world class bio-incubators By 2025, Indian Biotechnology industry is expected to reach $ 100 bn 100% FDI is allowed under the automatic route for greenfield pharma. 100% FDI is allowed under the government route for brownfield pharma in upto 74% FDI is under automatic route and beyond 74% is under the government approval route. FDI up to 100% is allowed under the automatic route for the manufacturing of medical devices.