<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="20068546" type="General" weightage="20" keywordseo="bioeconomy" source="keywords">bioeconomy</keyword> has experienced significant growth, reaching a valuation of USD 151 billion by the end of 2023, according to a new report, which said that the surge highlights the bioeconomy's critical role in national development, contributing 4.25 per cent to the country's GDP and positioning India among the top five global bioeconomies. The report, prepared by the <keyword id="20068545" type="General" weightage="20" keywordseo="biotechnology" source="keywords">Biotechnology</keyword> Industry Research Assistance Council (<keyword id="22722619" type="General" weightage="20" keywordseo="BIRAC" source="keywords">BIRAC</keyword>) and the Association of Biotechnology Led Enterprises (ABLE), outlines transformative advances across biotechnology, agricultural innovation, healthcare, and <keyword id="22906123" type="General" weightage="20" keywordseo="biomanufacturing" source="keywords">biomanufacturing</keyword>, driving the sector's expansion. It was released during a session at the Global Bio-India Summit 2024. The report said that India's bioeconomy has experienced significant growth, reaching a valuation of USD 151 billion by the end of 2023. "This surge highlights the bioeconomy's critical role in national development, contributing 4.25 per cent to the country's GDP and positioning India among the top five global bioeconomies," it said. One of the major drivers of this growth has been the BioE3 (Biotechnology for Economy, Environment, and Employment) Policy, the report said, noting that the policy focuses on bio-based chemicals, precision biotherapeutics, climate-resilient agriculture, and advanced research in marine and space technologies. Rajesh S Gokhale, Secretary DBT, Chairman BIRAC &amp; DG-BRIC said the India bioeconomy report 2024, launched at the 4th edition of Global Bio India, marks a pivotal moment in India's journey to becoming a global leader in biotechnology. "The report underscores India's bioeconomy growth from USD 10 billion in 2014 to USD 151 billion by 2023, driven by rising demand for vaccines and biopharmaceuticals. With the new BioE3 Policy, we are poised to accelerate this momentum, aiming to reach USD 300 billion by 2030. This report sets the foundation for India's bio-revolution and highlights our path towards global leadership in biotechnology," Gokhale told PTI. The report also emphasises the use of Artificial Intelligence (AI) in biomanufacturing, with plans to create biomanufacturing and Bio-AI hubs. These efforts are expected to create new employment opportunities, particularly in tier-II and tier-III cities, while supporting the integration of biotechnology across various industries, the report said. The Bioindustrial sector remains the largest contributor to India's bioeconomy, accounting for USD 72.6 billion or 48.09 per cent of the total market, the report said. This sector includes biofuels, bioplastics, and enzymatic applications in industries such as textiles and detergents. Biofuels, in particular, have seen a sharp rise, with ethanol production capacity increasing to 13.8 billion litres in 2023, making India the world's third-largest producer of ethanol. The Ethanol Blended Petrol (EBP) programme, which promotes domestic ethanol production, has been central to reducing India's dependency on imported fuels and enhancing energy security, the report added. The biopharma sector also saw impressive growth, contributing USD 53.8 billion or 35.65 per cent to the bioeconomy. India's vaccine manufacturing capacity continues to be a global leader, with companies like Serum Institute of India (SII) producing over 3 billion doses annually. Major breakthroughs, such as the R21/Matrix-M malaria vaccine and India's first quadrivalent Human Papillomavirus (HPV) vaccine, have highlighted India's prowess in vaccine production. The diagnostics and medical devices segment, which grew to USD 19.4 billion, has also played a crucial role in addressing healthcare challenges, particularly through advancements in early disease detection and personalized medicine, the report said. In the bioagri sector, which accounted for USD 12.44 billion (8.24 per cent), agricultural biotechnology continues to drive innovations in sustainable farming practices. Precision agriculture technologies, such as genetically modified crops and bio-based products like biopesticides, are being increasingly adopted to enhance agricultural productivity. "Bt cotton remains a key example of how biotechnology is improving crop resilience and yields, contributing to sustainable agriculture growth in India," the report said. India's bioservices sector, valued at USD 12.1 billion (8.02 per cent), has emerged as a critical support system for the bioeconomy, providing contract research, clinical trials, and biotech software services, the report said. "This segment grew by 30 per cent in 2023, reflecting India's expanding role as a global hub for research and development. The sector's growth is expected to continue, with increasing demand for outsourced research and specialised bioservices that help accelerate product commercialisation," the report added. Looking ahead, the report said India's bioeconomy is expected to continue its robust expansion, targeting a valuation of USD 300 billion by 2030. "This growth will be driven by advancements in sectors like bioindustrial, biopharma, and bioagri, along with strategic government policies such as the BioE3 initiative. The bioeconomy is also projected to support over 35,000 startups and create 35 million jobs by the end of the decade, underscoring its potential as a key driver of India's sustainable development and economic growth," it said. 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India's bioeconomy reaches valuation of $151 billion, contributes 4.25%  to GDP: Report

New Delhi: <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="20068546" type="General" weightage="100" keywordseo="bioeconomy" source="keywords">bioeconomy</keyword> has experienced significant growth, reaching a valuation of USD 151 billion by the end of 2023, according to a new report, which said that the surge highlights the bioeconomy's critical role in national development, contributing 4.25 per cent to the country's GDP and positioning India among the top five global bioeconomies. The report, prepared by the <keyword id="20068545" type="General" weightage="20" keywordseo="biotechnology" source="keywords">Biotechnology</keyword> Industry Research Assistance Council (<keyword id="22722619" type="General" weightage="20" keywordseo="BIRAC" source="keywords">BIRAC</keyword>) and the Association of Biotechnology Led Enterprises (<keyword id="23152831" type="General" weightage="20" keywordseo="ABLE" source="keywords">ABLE</keyword>), outlines transformative advances across biotechnology, agricultural innovation, healthcare, and <keyword id="22906123" type="General" weightage="20" keywordseo="biomanufacturing" source="keywords">biomanufacturing</keyword>, driving the sector's expansion. It was released during a session at the <keyword id="23139986" type="General" weightage="20" keywordseo="Global-Bio-India-Summit" source="keywords">Global Bio-India Summit</keyword> 2024. The report said that India's bioeconomy has experienced significant growth, reaching a valuation of USD 151 billion by the end of 2023. "This surge highlights the bioeconomy's critical role in national development, contributing 4.25 per cent to the country's GDP and positioning India among the top five global bioeconomies," it said. One of the major drivers of this growth has been the BioE3 (Biotechnology for Economy, Environment, and Employment) Policy, the report said, noting that the policy focuses on bio-based chemicals, precision biotherapeutics, climate-resilient agriculture, and advanced research in marine and space technologies. It also emphasizes the use of Artificial Intelligence (AI) in biomanufacturing, with plans to create biomanufacturing and Bio-AI hubs. These efforts are expected to create new employment opportunities, particularly in tier-II and tier-III cities, while supporting the integration of biotechnology across various industries, the report said. The Bioindustrial sector remains the largest contributor to India's bioeconomy, accounting for USD 72.6 billion or 48.09 per cent of the total market, the report said. This sector includes biofuels, bioplastics, and enzymatic applications in industries such as textiles and detergents. Biofuels, in particular, have seen a sharp rise, with <keyword id="20069651" type="General" weightage="20" keywordseo="ethanol" source="keywords">ethanol</keyword> production capacity increasing to 13.8 billion litres in 2023, making India the world's third-largest producer of ethanol. The Ethanol Blended Petrol (EBP) programme, which promotes domestic ethanol production, has been central to reducing India's dependency on imported fuels and enhancing energy security, the report added. The <keyword id="20071168" type="General" weightage="20" keywordseo="biopharma" source="keywords">Biopharma</keyword> sector also saw impressive growth, contributing USD 53.8 billion or 35.65 per cent to the bioeconomy. India's vaccine manufacturing capacity continues to be a global leader, with companies like Serum Institute of India (SII) producing over 3 billion doses annually. Major breakthroughs, such as the R21/Matrix-M malaria vaccine and India's first quadrivalent Human Papillomavirus (HPV) vaccine, have highlighted India's prowess in vaccine production. The diagnostics and medical devices segment, which grew to USD 19.4 billion, has also played a crucial role in addressing healthcare challenges, particularly through advancements in early disease detection and personalized medicine, the report said. In the Bioagri sector, which accounted for USD 12.44 billion (8.24 per cent), agricultural biotechnology continues to drive innovations in sustainable farming practices. Precision agriculture technologies, such as genetically modified crops and bio-based products like biopesticides, are being increasingly adopted to enhance agricultural productivity. "Bt cotton remains a key example of how biotechnology is improving crop resilience and yields, contributing to sustainable agriculture growth in India," the report said. India's bioservices sector, valued at USD 12.1 billion (8.02 per cent), has emerged as a critical support system for the bioeconomy, providing contract research, clinical trials, and biotech software services, the report said. "This segment grew by 30 per cent in 2023, reflecting India's expanding role as a global hub for research and development. The sector's growth is expected to continue, with increasing demand for outsourced research and specialised bioservices that help accelerate product commercialisation," the report added. Looking ahead, the report said India's bioeconomy is expected to continue its robust expansion, targeting a valuation of USD 300 billion by 2030. "This growth will be driven by advancements in sectors like bioindustrial, biopharma, and bioagri, along with strategic government policies such as the BioE3 initiative. The bioeconomy is also projected to support over 35,000 startups and create 35 million jobs by the end of the decade, underscoring its potential as a key driver of India's sustainable development and economic growth," it said.

India's bioeconomy reaches valuation of USD 151 billion, contributes 4.25 percent to GDP: Report

A corpus of Rs 1 lakh crore will be established with 50-year interest free loans to encourage the private sector to scale up research and innovation in sunrise domains, Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> announced on Thursday. Presenting the interim Budget 2024-25, Sitharaman said this will be a golden era for India's tech savvy youth. "A corpus of Rs 1 lakh crore will be established with 50-year interest free loan. The corpus will provide long-term financing or refinancing with long tenures and low or nil interest rates," the minister said. "This will encourage the private sector to scale up research and innovation significantly in sunrise domains. We need to have programmes that combine the powers of our youth and technology," she added. EV stocks rally Shares of companies related to the electric vehicle segment jumped on Thursday after the announcement that the government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged. The stock of Olectra Greentech jumped 6.21% to reach its 52-week high of Rs 1,849.25 on the BSE. JBM Auto climbed 4.96% to hit its one-year peak of Rs 2,010.80. Greaves Cotton went up by 3% to the day's high of Rs 168.55. The government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged, Finance Minister Nirmala Sitharaman said on Thursday. Sitharaman, in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, also said the blending of compressed biogas into compressed natural gas for transport and piped natural gas will be mandatory. Biomanufacturing and bio foundry scheme will be launched to provide environment-friendly alternatives for bio-degradable production, she added.

Corpus of Rs 1 lk cr to scale up research in sunrise domains: FM Sitharaman

New Delhi, Jul 11 () Biotechnology major Biocon on Saturday said it has received approval from the Drugs Controller General of India (DCGI) for use of its biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients. The company has received the DCGI approval to market Itolizumab injection 25mg/5mL solution for emergency use in India for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome (ARDS) patients due to COVID-19, Biocon said in a BSE filing. Itolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe COVID-19 complications, it added. The company, however, did not disclose the price at which it will be selling the drug. The firm has repurposed the drug, an anti-CD6 IgG1 monoclonal antibody launched in India in 2013 as Alzumab for treating chronic plaque psoriasis, Biocon said. The drug will be manufactured and formulated as an intravenous injection at the company's bio-manufacturing facility at Biocon Park, Bengaluru. DCGI's approval for Itolizumab is based on the results from the successful conclusion of a randomised, controlled clinical trial at multiple hospitals in Mumbai and New Delhi, Biocon said. "As an innovation-led biopharmaceuticals company, I am proud of the successful outcome of the pivotal study we conducted with our novel immuno-modulating anti-CD6 monoclonal antibody, Itolizumab, which has proven to be an efficacious intervention in treating the serious hyper immune response seen with COVID-19," Biocon Executive Chairperson Kiran Mazumdar-Shaw said. This positions India among the leading global innovators in their effort to overcome the COVID-19 pandemic, she added. "We plan to take this therapy to other parts of the world impacted by the pandemic," Mazumdar-Shaw said. India's coronavirus caseload zoomed past the eight-lakh mark on Saturday with a record single day increase of 27,114 cases.The death toll climbed to 22,123 with 519 people succumbing to the disease in 24 hours, according to health ministry data. AKT ABM ABM

Biocon gets DCGI nod for use of Itolizumab for treatment of COVID-19 patients

Researchers at the University of Oxford are looking for over 500 healthy volunteers to test if their vaccine, called 'ChAdOx1 nCoV-19', can prevent the novel coronavirus. The team at Oxford will enroll healthy volunteers aged between 18–55, who, if pass screening, will be the first humans to test the new vaccine, the university said in a statement on Friday. The trial, a collaboration between the university's Jenner Institute and Oxford Vaccine Group clinical teams, will recruit up to 510 volunteers, who will receive either the 'ChAdOx1 nCoV-19' vaccine or a control injection for comparison. The trial will provide valuable information on the safety aspects of the vaccine, as well as its ability to generate an immune response against the virus. The trial has been approved by UK regulators and ethical reviewers. Researchers are working as quickly as possible to get the vaccine ready to be used in the trial, which includes further preclinical investigations and production of a larger number of doses of the vaccine. Interested individuals can volunteer to participate on the COVID-19 vaccine website, University of Oxford said. While the team will start screening people now to see if they are eligible to take part in the study, participants will not receive the vaccine for some weeks. Detailed preclinical work is being done and the vaccine is being manufactured to clinical grade standard at the Clinical Biomanufacturing Facility at Oxford University. "The Oxford team had exceptional experience of a rapid vaccine response, such as to the Ebola outbreak in West Africa in 2014. This is an even greater challenge. Vaccines are being designed from scratch and progressed at an unprecedented rate," said Professor Adrian Hill, Director of the Jenner Institute at the University of Oxford. "The upcoming trial will be critical for assessing the feasibility of vaccination against COVID-19 and could lead to early deployment," Hill said. Scientists around the world are working hard to develop a vaccine to prevent COVID-19, but there is a lot to be done. The Oxford team led by Professor Sarah Gilbert, Professor Andrew Pollard, Professor Teresa Lambe, Dr Sandy Douglas and Professor Adrian Hill started work designing a vaccine on January 10, 2020. The vaccine is an adenovirus vaccine vector (ChAdOx1) and was developed at Oxford's Jenner Institute. It was chosen as the most suitable vaccine technology for a SARS-CoV-2 (COVID-19) vaccine as it can generate a strong immune response from one dose and it is not a replicating virus, so it cannot cause an ongoing infection in the vaccinated individual, the university said, adding that this also makes it safer to give to children, the elderly and anyone with a pre-existing condition such as diabetes. Adenoviral vectors are a very well-studied vaccine type, having been used safely in thousands of participants, from 1 week to 90 years of age, in vaccines targeting over 10 different diseases.

Coronavirus Vaccine: Oxford University to recruit 500 volunteers for COVID-19 vaccine trial

<ul><li>Biotechnology major <keyword id="6358361" type="DEFINITION" weightage="20" keywordseo="biocon">Biocon</keyword> on Monday said it will launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients at a price of around 8,000 per vial. </li><li>The company has received approval from the Drugs Controller General of India (DCGI) to market Itolizumab injection 25mg/5mL solution for emergency use in India for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome (ARDS) due to COVID-19. </li><li>Itolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe COVID-19 complications, Biocon had earlier said in a regulatory filing. </li></ul> Biotechnology major Biocon on Monday said it will launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients at a price of around 8,000 per vial. As most patients need 4 vials, the cost of the therapy is around Rs 32,000, Mazumdar-Shaw said. The company has received approval from the Drugs Controller General of India (DCGI) to market Itolizumab injection 25mg/5mL solution for emergency use in India for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome (ARDS) due to COVID-19. Itolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe COVID-19 complications, Biocon had earlier said in a regulatory filing. "Until the vaccine comes, we certainly need life saving drugs. I think what we are doing across the world is to see how we can either repurpose drugs or develop new drugs to treat this pandemic," Biocon Executive Chairperson Kiran Mazumdar-Shaw said in a virtual press conference. Even if we get a vaccine by the end of this year or early next year, there is no guarantee that there will not be reinfection, there is no guarantee that it will work the way we expect it to work, so we must be in a state of preparedness, she added. "When COVID happened, we said it actually gives us a very strong case to try it (Itolizumab) for COVID, because we do believe that the unique mechanism of action that it has can help us deal with this storm that we have seen is killing patients,'' Mazumdar-Shaw said. Itolizumab is approved for moderate to severe acute respiratory distress syndrome (ARDS) due to COVID-19, she added. On being asked if the company is ramping up the capacity to manufacture more vials on account of the pandemic, she said: "We have the manufacturing capacity and the supply and distribution network in place, however post this approval we are looking to ramp up production capacity to meet the expected surge in demand. Our aim is to reach a larger number of patients across the country". The drug will be manufactured and formulated as an intravenous injection at the company's bio-manufacturing facility at Biocon Park, Bengaluru. When asked about the steps the company is taking to ensure availability of the drug, Mazumdar-Shaw said: "Alzumab is already in market, we will be supplying to hospitals as per protocol against a medical prescription and patient consent form. Currently, there is a huge demand and Biocon wants to ensure Itolizumab first reaches those patients who need them the most". AKT BAL

Biocon to launch drug for COVID-19 patients at ₹ 8,000 per vial

By Aditi Khanna London, May 31 () An Indian-origin scientist, who is part of a team of Oxford University professionals on a project to find a vaccine to protect against the coronavirus, says she feels honoured to be a part of a humanitarian cause, with the world's hopes attached to the outcome. Chandrabali Datta, who was born in Kolkata, works in the Clinical Biomanufacturing Facility at the university's Jenner Institute where Phase II and III of human trials of the vaccine named ChAdOx1 nCoV-19 are being conducted as a possible tool to fight the deadly virus. The 34-year-old's role as a Quality Assurance Manager means it is her task to ensure all levels of compliance are met before the vaccine could progress to the trial stage. "We are all hoping that it works in the next stage; the whole world is looking to this vaccine," said Datta. "It's like a humanitarian cause to be a part of this project. We are a non-profit organisation, putting in extra hours everyday just to make this vaccine successful, so that human lives can be saved. It is a massive team effort and everyone has worked around the clock towards its success. I feel honoured to be a part of this project," she said. While her own "close knit" team of 25 experts on the production side of the vaccine is extremely gender balanced, Datta is keen to encourage young girls in India to challenge a perceived male dominance in the field of bioscience. "If you are motivated and up for a challenge, then this is your field. Nowadays, biotech and pharma are getting an equal male-female ratio so there are lots of opportunities," she said. "The scientific field is not highly paid, so you have to get rid of your materialistic desires if you want to be successful in this field. But if your motivation is really high and you are up for the struggle, then this is a very rewarding area of work. There is lots of recognition for your hard work because at the end of the day you are improving human lives," she says, as a message for young girls considering a career in bioscience. Datta, who studied engineering and biotechnology in Kolkata, was drawn to biology and mathematics in childhood. She went on to study computer science and even worked as an Associate Software Engineer with Accenture in India but was pulled back to biotech because of its "evolving and inventive" potential. "My childhood friend was studying in Nottingham, who inspired me, and the UK is known for equal rights, women rights. So, I chose to do my Masters in biotech from the University of Leeds," she recalls. "It has been a real struggle – leaving India and coming here. My mother wasn't too happy about her only child moving countries to study. But my father has always been ambitious for me and said I should chase my dreams and not compromise," she said. During this time, Datta balanced shifts at the supermarket and pizza restaurants with her laboratory experiments in order to cover living costs. After her degree, came more hardships in the form of a job hunt, which proved extremely challenging and involved drafting hundreds of applications a day. She recalls, "I remember I would finish my lab project and quickly run to Tesco to do evening shifts from 6.30pm to midnight. And, by the time I would get home, I didn't even have time to eat, I would just fall asleep. I would sleep only three hours a day. "Getting a job wasn't easy without industry experience. Many of my peers went the PhD route but I wanted to be in the industry. A lot of my friends gave up and returned to India. But I refused to give up," she said. Her persistence paid off when she got a job at pharmaceutical giant GlaxoSmithKline as an R&amp;D scientist developing inhalers. Her hard work and diligence saw her move up the ranks quickly until her current job at Oxford University about a year ago, where she finds herself a part of one of the world's most-talked-about vaccine projects. "I have to make sure that all our departments are compliant, everyone is trained in whatever they are doing and following all standard operating procedures (SOPs). Particularly in this project, my contribution was to check that everything is compliant, SOPs are followed, no mistakes were made," she explains. But working through the lockdown as a key worker on the frontlines of the pandemic meant her parents back in Kolkata being constantly worried for her safety. "My parents were really worried and paranoid about me going in to work during this crisis. But I had to help my team. Everyone is under stress, given the pandemic, and we supported each other through this crisis period. Whenever someone was struggling, there were people around to help," she said. While she manages to stay in touch with family and friends back in India through regular WhatsApp calls, Datta is hoping she can be with her parents for her annual Christmas trip by the end of the year. "We have never seen a pandemic like this in our lives. We used to read in history but never imagined that in the 21st century we will actually see such a pandemic which will mean we have to be locked in our houses for months. The main focus is to bring human life back to normal and to save lives," she said. AK RS RS RS

Oxford University vaccine is a humanitarian cause: Indian-origin scientist

<img class="gwt-Image" src="/photo/49919426.cms" style="width: 800px; height: 600px;" />IIT-Bombay sources informed ET that engineering companies like <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword>, General Electric, Sony Japan and a few others have now been given slots on Day 1 of the placement season after the ministry of human resource development (MHRD) nudged IITs to do this to bolster the central government's '<keyword id="6354869" type="UNKNOWN" weightage="100" keywordseo="make-in-India">Make in India</keyword>'. Traditionally consulting, finance, technology and <keyword id="2499420" type="UNKNOWN" weightage="100" keywordseo="ecommerce-companies">ecommerce companies</keyword> form majority of the companies that come on Day 1. Last year, a few offered salaries as high as Rs 1 crore. 

	Interestingly, IIT-Bombay is the only institute to have obliged the government. Sources at IIT-Kharagpur and Delhi told ET that the institutes are not giving any such preferential treatment to any company. IIT-Madras is moving up core companies by several days in the placement schedule, but is not giving a Day 1 slot to any engineering company. IIT placements kick off on December 1. 
 

	IIT-Bombay will see a total of 110 core engineering companies this placement season, a jump of 40 per cent from last year. The institute received about 190 job announcement forms from the core engineering space, compared to only 110 last year.
 

	A senior MHRD official confirmed that the government is encouraging the leading IITs to take "relevant measures" to push the Make in India campaign. "This is the need of the hour for the country," the official, who did not wish to be named, said. 
 "I am a beneficiary of talent from the IIT-Bombay," Kiran Mazumdar-Shaw, chairman of <keyword id="213947" type="COMPANY" weightage="100" keywordseo="Biocon-Limited">Biocon Limited</keyword> and the current chairperson of IIM-Bangalore said. "During my days of developing bio-manufacturing, we had a large team of engineers from <keyword id="61708" type="COMPANY" weightage="100" keywordseo="IIT-Bombay">IIT Bombay</keyword>." Nobody can be forced to support the Make in India campaign, but all IITs would gain from it, she added. She continues to pick fresh talent from IITs even today for the company. 

	"Earlier, consulting firms used to take up most of the slots in the early days of the placement. But now as a conscious effort, we are pushing for core engineering firms, partly due to the students' preferences," an IIT-Bombay placement faculty said. 
 

	According to sources in the placement cell, the institute is not choosing Day 1 companies based on salaries offered. Going forward too, the institute intends to strengthen its focus on the core engineering companies, the source added. The institute wants to give a balanced choice to students in terms of offering equal importance to firms from consulting, finance, banking, technology and core engineering.
 

	"This will give the students a lot of choice as there are a few students who prefer good profiles in core companies to hefty salaries in non-core companies," a student at IIT-Bombay said.

IIT Bombay favours manufacturing recruiters in placement season to bolster Modi's 'Make In India'

<div class="image-container float_right" style="width:400px"><div class="image"><img src="http://static6.businessinsider.com/image/511bad866bb3f74b30000006-2575-1929/barack-obama-172.jpg?maxX=400" border="0" alt="Barack Obama" width="400" /></div>AP</div>As President <keyword id="15962" type="PERSON" weightage="60" keywordseo="Barack-Obama">Barack Obama</keyword> heads to Asheville, N.C., Wednesday to push the themes outlined in his <keyword id="97538" type="ENTERTAINMENT" weightage="60" keywordseo="State-of-the-Union">State of the Union</keyword> address, the <keyword id="6356037" type="ORGANIZATION" weightage="60" keywordseo="white-house">White House</keyword> has unveiled a four-step plan it claims would make the U.S. a "magnet for jobs" by investing in <keyword id="6362048" type="ORGANIZATION" weightage="60" keywordseo="Manufacturing">manufacturing</keyword>.
The White House's plan follows four general guidelines: Investing in American-made technologies; ending tax breaks for companies that ship jobs overseas; new partnerships to bring jobs back to America and encourage companies to hire in America; and opening global markets to American-made goods.
Obama will outline the plan during his speech in Asheville, where he will visit the Linamar Factory, which produces heavy-duty engine and driveline components.
In his State of the Union Tuesday, Obama outlined proposals to revitalize American manufacturing and bring jobs back to the country, including plans to launch manufacturing hubs, that would leverage public-private partnerships to boost technologies and capabilities. Obama said he would begin the initiative with an executive order to launch three additional hubs, and called on Congress to invest $1 billion to create a network of 15 of these hubs. 
Here's Obama's full manufacturing plan, via the White House:
<h2 align="center">The President’s Commitment to Revitalize American Manufacturing and Bring Jobs Back</h2>
In his State of the Union, the President outlined a comprehensive agenda to attract more jobs to our shores. As part of this effort, he is committed to investing in U.S. manufacturing:
<div>
<h3>Partnering with businesses and communities to invest in American-made technologies and American workers</h3>
</div>
<ul>
<li>Transforming communities across the country into global centers of advanced manufacturing: To support investment in U.S. manufacturers’ competitiveness and accelerate innovation in manufacturing, the President is proposing a one-time, $1 billion investment to launch a network of 15 manufacturing innovation institutes across the country. Leveraging the strengths of a particular region, each institute will bring together companies, universities and community colleges, and government to co-invest in the development of world-leading manufacturing technologies and capabilities that U.S.-based manufacturers can apply in production. In August 2012, the Administration launched a pilot institute in Youngstown, Ohio with a $45 million funding commitment from five Federal agencies, led by the Department of Defense. The winning partnership of firms and universities from Ohio, Pennsylvania, and West Virginia was one of twelve teams that applied.Creating a Community College to Career Fund: Co-administered by the Department of Labor and the Department of Education, this Fund will help forge new partnerships between community colleges and businesses to train two million workers for good-paying jobs in high-growth and high-demand industries, including advanced manufacturing. These investments will give more community colleges the resources they need to become community career centers where people learn skills that local manufacturers are looking for now, and ensure that employers can find the skilled workers they need and workers are gaining credentials to build strong careers.
<ul>
<li>While the President will continue to push Congress to act on his broader proposal, he will take executive action to launch three new manufacturing innovation institutes in 2013: To build on the success of a pilot institute, the President announced a plan to launch three new manufacturing innovation institutes this year, a co-investment between Federal agencies, led by the Departments of Defense and Energy, and the private sector, with an initial focus on manufacturing technologies that also address critical national security and energy needs.</li>
</ul>
</li>
</ul>
<div>
<h3>Ending Tax Breaks to Ship Jobs Overseas and Making the U.S. more competitive</h3>
<ul>
<li>Making the U.S. more competitive for manufacturing by reforming our tax code: To encourage innovation and investment in the U.S. as part of the President’s broader commitment to business tax reform, the President is proposing to lower tax rates for manufacturers to 25 percent, expand and make permanent the research and development tax credit, put in place an “offshoring tax” that would set a minimum tax on offshore earnings to prevent a race to the bottom in corporate tax rates, and extend and enhance key incentives to invest in U.S. clean energy through a permanent, refundable production tax credit and a reauthorization of the Advanced Energy Manufacturing Tax Credit that provides an incentive for clean energy manufacturing at home.</li>
</ul>
</div>
<ul>
<li>Strengthening manufacturing supply chains through the Manufacturing Extension Partnership: The Department of Commerce’s Manufacturing Extension Partnership (MEP) provides a range of business services to small manufacturers and is enhancing the program to help companies focus on technology transition which requires deep supply chain expertise. The President’s Budget will propose a $25 million increase to launch Manufacturing Technology Acceleration Centers (MTACs), which will be industry-specific centers that can serve as a coordination point within key supply chains. The Administration is also announcing plans to pilot two new centers in 2013 using existing resources.</li>
</ul>
<h3>Bringing Jobs Back</h3>
<ul>
<li>Investing in manufacturing communities and bringing jobs back: Today, we are better positioned to attract new manufacturing investment in the U.S. and bring jobs back. But some communities are still hard-hit by the recession, particularly after closure of factories in places like Detroit, Michigan and Rochester, New York. The President is announcing new steps to partner with and help strengthen communities, including:Creating a Community College to Career Fund: Co-administered by the Department of Labor and the Department of Education, this Fund will help forge new partnerships between community colleges and businesses to train two million workers for good-paying jobs in high-growth and high-demand industries, including advanced manufacturing. These investments will give more community colleges the resources they need to become community career centers where people learn skills that local manufacturers are looking for now, and ensure that employers can find the skilled workers they need and workers are gaining credentials to build strong careers.
<ul>
<li>Launching an “Investing in Manufacturing Communities Partnership”: The President is directing Federal agencies to provide coordinated assistance to manufacturing communities through a new partnership designed to strengthen communities’ ability to attract investment. To support the Partnership, the President’s Budget will propose $113 million to provide targeted financial assistance for about five manufacturing communities while leveraging non-Federal funds on a 2 to 1 matching basis to co-invest in state of the art infrastructure projects and research facilities. These efforts will aim to attract manufacturers and their supply chain of local parts innovators, producers, and distributors, creating new jobs and strengthening the local economy. In addition, the Partnership, through multiple Federal agencies, will provide technical support to redevelop manufacturing communities that have had major plant closings, in partnership with local leaders, workers, and businesses.</li>
<li>Expanding Federal efforts to attract investment to the U.S.: In 2011, the President launched SelectUSA at the Department of Commerce, creating the first Federal effort to actively attract business investment in the United States. To help our governors and mayors compete with foreign countries, the President will propose in his Budget to significantly expand SelectUSA. The Administration will host a SelectUSA Investment Summit this year, matching businesses from around the world with local leaders to attract jobs and investment to our shores.</li>
<li>Proposing a Manufacturing Communities Tax Credit: The President is proposing incentives for communities facing concentrated job losses – particularly hard-hit manufacturing communities – to help attract new investment and jobs. The incentives will help prevent the downward spiral that can occur following mass layoff events.</li>
</ul>
</li>
</ul>
<div>
<h3>Leveling the playing field and opening markets for American-made products</h3>
</div>
<ul>
<li>Boosting U.S. exports: The President is committed to doubling American exports and has taken steps to expand market access for American-made products through trade agreements with South Korea, Columbia, and Panama. To boost exports, the President will launch talks on a comprehensive trade agreement with the European Union with the goal of promoting free and fair trade across the Atlantic to support millions of good-paying American jobs, and will complete the Trans-Pacific Partnership.</li>
<li>Strengthening our capabilities to enforce trade laws and support American workers: The President has aggressively enforced trade rules to ensure that American workers are competing on a level playing field with firms from around the world, doubling the rate of WTO challenges against China compared to the previous Administration, and applying the “Section 421” against China to address a surge in Chinese tires. Last year, the President launched an Interagency Trade Enforcement Center (ITEC) with resources devoted exclusively to ensuring our trading partners are playing by the rules, and he is calling for dedicated funds beyond existing resources to provide the support needed by ITEC to ensure American workers are competing on a level playing field .</li>
<li>Ensuring U.S. leadership in clean energy and advanced vehicle manufacturing: Building on the President’s historic investments in clean energy and the fuel efficiency standards put in place through 2025, the Obama Administration has proposed a comprehensive approach to advanced vehicle manufacturing, including incentives for consumers and businesses to lower the cost of advanced vehicles, investments in partnership with communities to address the local barriers to deployment of advanced vehicles at critical mass, and increased investments in advanced vehicle technologies through the Department of Energy’s EV Everywhere grand challenge. The President will also continue to call on Congress to reauthorize the successful and oversubscribed 48C Advanced Energy Manufacturing Tax Credit. </li>
<li>Supporting innovative, advanced manufacturing technologies through increased Federal R&amp;D: The President’s Budget will propose increases in key advanced manufacturing R&amp;D programs across Federal agencies. Investments include supporting innovative manufacturing processes that dramatically reduce energy use and strengthening investments in platform technologies like nano-manufacturing, bio-manufacturing, robotics through the National Robotics Initiative, advanced materials through the Materials Genome Initiative, and defense technologies to fundamentally change the way we build things and dramatically reduce the time from design to production.</li>
</ul>

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