India, with its strong research and development base in life sciences, IT and pharma industries, is on the threshold of a revolution in biotechnology, scientists at the BioAsia 2004 Summit said in Hyderabad on Thursday.

The availability of scientific talent at a moderate cost, a repository of research and development institutions and government efforts to improve intellectual property rights in giving legal and administrative protection to IP holders is encouraging venture capitalists to invest in this sector, speakers at the three-day summit said.

Stressing on the need for unified effort in development of biotechnology in Asia, the scientists observed there is an urgent need to consolidate the efforts from Asian countries to forge ahead in the development of biotech related industries in the region.

The summit was inaugurated by the Andhra Pradesh Governor Surjit Singh Barnala is being attended about 500 delegates from all the Asian countries including Pakistan and Bangladesh.