According to a news source, India’s biotechnology sector is expected to reach $10 billion in revenue by 2015. A top state official has claimed that innovative biotech products and services brought $4 billion in fiscal 2011, with the state of Karnataka contributing $1.6 billion, or 40 percent of the nation’s total.
India is reportedly ranked among the top 12 biotech destinations worldwide and third largest in the Asia-Pacific region. To ensure that Karnataka remains a major biotech industry investment destination, the state government has evidently set up a $10-million Bio Venture Fund to help startups in high-technology areas. See The Economic Times, May 5, 2011.