Maharashtra: Coveted hub for Biotechnology in India

Maharashtra: Coveted hub for biotechnology in India

Maharashtra: Coveted hub for Biotechnology in India

Maharashtra has emerged as one of the coveted hubs for biotechnology in India and in the South East Asia. The state accounts for 55 per cent of the biotechnology companies in India, making it the country’s top destination for biotechnology companies, as per a report by PwC India. The state contributes to around 20% of India’s pharma sector turnover and has the highest number of US FDA approved plants in India, highest number of pharmaceutical units and houses the country’s leading pharmaceutical countries. The state’s knowledge hub and cultural capital, Pune, hosts The Serum Institute, one of the largest vaccine manufacturers in the world.

Biotechnology Policy

The state set its foundations in the sector long ago in 2001 by announcing its biotechnology policy, and setting up a biotechnology commission and announcing a slew of sops for the companies starting operations in the state. The measures that ware later emulated by many other states and union territories in India were aimed at establishing itself as a leader in the sector. Currently, the state leads the country in terms of policy and regulatory framework for the sector. The state has also set a model by creating conductive infrastructure required for operating state-of-the-art facilities such as integrated biotechnology parks like the TCG International Biotech Park in Pune which was jointly developed by Maharashtra Industrial Development Corporation (MIDC) and TCG Real Estate (TCGRE). The state is home to many institutions of international repute such as the National Institute of Virology, National Centre for Cell Science and National AIDS Research Institute, and so on.

Biotech Ecosystem

Startup ecosystem
Maharashtra provides one of the best ecosystem for startups in the country, it ranks first for having the highest number of startups in India, with about 3,000 startups. It leads with the largest number of startups in the biotech sector as well, with 966 startups.

CRAMS industry
The state is leading in the Contractual Research and Manufacturing Services (CRAMS) industry which is one of the fastest growing segments in the pharmaceutical and biotechnology. According to available data, there are around 1,200 contractual research and manufacturing services (CRAMS) units located in Maharashtra.

Largest talent pool
The growth of the biotech sector in the state is due to Pune, which has a strong research base and a big talent pool. The large number of national research institutions in Pune provide ample talent in terms of data analytics, research and regulatory affairs, bioinformatics, clinical research and sales and more, which adds to the attraction of the state as a destination in biotechnology.

In addition to all this, convenient living circumstances, availability of qualified and loyal talent at lower hiring costs, conducive climate and relatively low living expenditure play a major role in making Maharashtra a favorite destination for biotechnology companies in India and from across the globe. As the hub of biotechnology, Maharashtra holds great promise in the future.