Indian Biotech Industry to Hit $10B in 2015

India's biotech industry is expected to swell to $10 billion in 2015.

Indian government officials say the country's biotech industry grew 33 percent in the past fiscal year, hitting $4 billion in total revenue. And while that figure pales in comparison to the industry's $180 billion global tally, it's expected to swell to $10 billion in 2015.

Karnataka IT and BT principal secretary M.N. Vidyashankar told the Economic Times that biotech exports will lead the way to that much bigger number. And certain regions like Karnataka--and Bangalore in particular--will be at the forefront. Interestingly, Frost & Sullivan submitted a report on biotechnology outlining rapid growth for the global biotech industry, which its analysts expect will hit $433 billion in collective revenue by 2015.

"Bangalore has emerged as an in