Zeack News

Bangalore, Jun 18 : UPA Government would make substantial allocation to science and technology in the coming budget, Union Minister Prithviraj Chavan said today, asserting that Biotechnology would be the "focus area" for the country.

"Spending two percent of the GDP for S and T is our goal, but we have not reached it here," the Minister of State for Science and Technology told the Bangalore-Bio 2009, an annual event showcasing the Biotech industry.



Asserting that that "biotechnology is a focus area for us", he said the sector had recorded a domestic growth of 18 per cent and its turnover was expected to reach USD 25 billion by 2020.



BT was being recognised as a sunrise sector and it had "come of age" in India, he said.



"If the country had to become a major power and solve its problems, BT would be called to play an important role," the minister said, adding "the people of India will not wait" and wanted science to provide solutions to their problems.



The national BT strategy needed focussed attention, optimisation of facilities, focus on discovery and innovation and connectivity across states and creating human capital, he said.



India was now considered the vaccine hub in the world with every third child administered Indian vaccine, Chavan said.



Karnataka Chief Minister B S Yeddyurappa said the state's millennium biotech policy was under revision, with thrust on capacity building, de-regulating certain provisions coming in way of growth of the sector, providing fiscal incentives and concessions and building up the necessary infrastructure. Ze