BANGALORE: A study by the Export-Import Bank (Exim Bank) said that though India has opportunities in biotechnology, it needs to address issues pertaining to regulations, venture capital funding and improvement of skill set of employees. It its study called ?Biotechnology: Emerging opportunities for India?, Exim Bank said that India is already demonstrating its prowess in generics, clinical research and trials, bioprocessing, bio-informatics and stem cell research. ?However, issues such as regulation of the biotechnology industry, provision of sufficient venture capital funding and improvement in the skill set of trained manpower needs to be addressed to ride advantageously the biotechnology wave,? it said. Indian biotechnology sector with total revenues of $0.72 billion in 2003-04 is estimated to have less than one percent of the global biotechnology revenues. India, with 160 active firms ranks eight in the world. The U.S. leads the list with 1500 biotechnology companies. According to the Exim Bank, some of the areas of competence of the Indian biotechnology industry are capacity in sterile fermentation process, skills in handling microbes and animal cells, skills in extraction of plant and animal products, competence in plant and animal breeding and creation of infrastructure in bioreactors and processing equipment. ?The potential of Indian biotechnology sector could be fully reaped through concerted and sustained efforts. Exim Bank had identified the biotechnology sector as one of the thrust sectors a decade ago,? the study said.