India’s biotech sector is powering ahead, with 30 per cent annual growth over the past four years. But venture capitalists are still not tempted to invest.
The Indian economy may be drawing nervous glances from Europe but its universities, famous for churning out 2.5 million graduates every year, are faltering.
As it engages with global markets India’s self-interests in IP are shifting. The result is a surge in litigation as differences of opinion emerge within local companies, think tanks and advocacy groups.
Intellectual property laws have fallen short of providing legal protection on indigenous knowledge. Now India is setting up a database to establish prior art on traditional knowledge.
It may have started from a low base, but the Indian biotech industry is hurtling past the global growth rate. And overseas companies are anxious to get in on the action.
A laser physicist in Saudi Arabia has devised a workable optical diagnostic tool to detect early cancer - and is now looking for partners to commercialise the technology.
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