Check these facts. In 2005 the Indian biotechnology industry was estimated to be around $1.05 billion achieving a growth rate of around 37%. As of now it just contributes to about one percent of the global biotechnology industry but it is expected that it would garner around ten percent share of the global biotechnology industry in the next five years. India can certainly achieve this as it has one of the largest pool of academicians and trained scientists and has more than three hundred institutes which are providing training in the field of bioinformatics and biotechnology. As of now there are more than seven lac post graduates and fifteen thousands PhDs which are working in various institutes and research areas across the nation. A study conducted by Ernst & Young has regarded India as one of the five emerging biotech leaders but China seems to be catching up quickly. As per the study India has achieved the third rank in the region on the basis of the number of biotech companies in the nation. Surely India is expected to realize its potential in the field of biotechnology and emerge as a clear winner in this field with its strength.
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The regulatory authority for biotechnology crops in India, Genetic Engineering Approval Committee (GEAC) has stated that India has witnessed an increase in the area under plantation with GM insect protected cotton from 1.2 million hectares to 3.2 million hectares in 2005. This variety of cotton has a protein from Bacillus thuringiensis which imparts protection to cotton plants from specific lepidopteron insect pests. Farmers in India were earlier facing losses due to insect pests and up till the year 2002 chemical control was considered to be the only option for controlling the pests. This is what one of the Indian farmer Eknath Shivram Pandit had to say abut GM cotton: It is cost-effective. We have to spray just 2 or 3 times. But with the other seeds, the worms would attack, and we had to spray at least 15 to 20 times.