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5) The economy that Biotechnology is bringing with it, is like soothing balm for the recession-hit world economy. Discuss with its relevance to India. (250 words)

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Topic: Achievements of Indians in science & technology, Indian Economy.

5) The economy that Biotechnology is bringing with it, is like soothing balm for the recession-hit world economy. Discuss with its relevance to India. (250 words)

Reference

why this question:

The Article discusses how biotech has arguably emerged as a preferred investment sector. Money is pouring in and analysts are sure the sector will maintain its blue chip status in the coming years as well.

Key demand of the question:

The answer must discuss the progress that Biotechnology is making exponentially and how its contribution to the economy is becoming significant day by day.

Directive:

DiscussThis is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.

Structure of the answer

Introduction:

Introduce briefly the context of the question.

Body:

  • Take cues from the article, use facts and reports to justify how Biotech has been progressively  performing.
  • The Indian Biotechnology sector is one of the major knowledge based sectors in India and is contributing significantly to shaping India’s rapidly growing economy.
  • Discuss the market size – based on a network of nearly three hundred national laboratories and about an equal number of universities. The national laboratories operate under various departments or agencies of the Government of India, predominantly the Council of Scientific and Industrial Research (CSIR), the Indian Council of Agricultural Research (ICAR), the Indian Council of Medical Research (ICMR), the Department of Science and Technology and the Department of Biotechnology, among others.
  • Discuss the government initiatives to boost the sector – examples –
  • The Ministry of Science and Technology, Government of India and RIKEN, Japan’s largest research organisation have signed memorandums of understanding (MoU) to launch joint research programs in the fields of biology, life sciences and material sciences.
  • UK Trade and Investment (UKTI) and the Association of Biotech Led Enterprises (ABLE) have signed a MoU to encourage and develop collaborative opportunities between Indian life sciences organisations and the UK.
  • The Drugs Controller General of India has approved Biocon Ltd to market its biosimilar ‘Trastuzumab’ developed jointly with the US drug-maker Mylan, for treating breast cancer. “This is a major milestone for both partners as it is the world’s first biosimilar trastuzumab to be accorded regulatory approval,” said Ms Kiran Mazumdar Shaw, Chairperson and Managing Director, Biocon.
  • The Government of India plans to set up National Institute of Biotic Stress Management for addressing plant protection issues will be established at Raipur, Chhattisgarh.
  • Conclude with significance.

Conclusion –

Conclude with how India’s biotechnology industry is expected to play a key role in sustaining future growth.