Bangalore: India's silicon hub Bangalore dominates not only in IT, but also in biotechnology, accounting for about 60 percent of the country's export pie, an official said here Thursday.

"As a sunrise industry, he biotechnology sector's growth is on track to achieve the target of $5 billion (Rs.200 billion) by 2010. With about 30 percent year-on-year (Y-o-Y) growth, the sector's revenue increased to $3 billion (Rs.120 billion) for fiscal 2008. About 50 percent ($1.5 billion) of the total revenue is generated from exports, with Bangalore again driving the growth," Biotechnology Department Secretary M.K. Bhan said.

In the case of investments, Bangalore accounted for 12 of the 24 biotech firms set up in the last fiscal (FY 2008). Top five biotech firms such as Serum, Biocon, Shantah, Wockhardt and Panacea accounted for a third of the total pie. Revenue from research activities touched $500 million and from bio-informatics $200 million.

"Bangalore biotech firms have maintained 35 percent growth rate with upfront investment of $250 million in last fiscal. As the country's largest cluster, the city boasts of 200 biotech firms," Bhan told about delegates at Bangalore Bio 2008, a three-day trade exposition being held at the international convention centre on the outskirts of the tech hub.

In the absence of a popular government in Karnataka and the state being in the election mode, the eighth edition of Asia's largest biotech event has been kept low-key. Unlike in the past, many political leaders abstained from the inaugural show.

The event, however, attracted about 150 exhibitors and 650 delegates from 15 countries. About 50,000 visitors are expected to visit the trade show over the next two days.