Global pharma and biotech companies, especially those from US, Europe and Japan, are keen to sign agreements with Indian companies, according to experts.
Talks of signing partnership agreements with Indian firms in the field of research and development were at the centre of discussions during the Opportunities in Life Sciences Molecules: Global Partnership Summit 2006 held at Varca near Panaji.
"Last year, seven to eight such partnerships emerged after the summit in Goa. This time, we expect more", global consultant company Frost and Sullivan president Aroop Zutshi said at the two-day summit.
"Major pharma and biotech companies in the US, Europe and Japan download $500 million worth R&D undertaken in the life science industry in India," Zutshi said, adding: "The trend is growing at 20 to 25 per cent and will touch the $1-billion mark in next five years".
Foreign companies are eyeing India because of the cost efficiency in R&D.
The industry, however faces the challenge of bridging gaps between demand and supply, he said. "There is a shortage of skilled manpower by almost by 50 per cent," he added.
The life science industry in India is pegged at $2 to $2.5 billion, which is minimal compared to the global size of $75 billion, experts said.
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