Areas of Service
GENERAL INDUSTRY BACKGROUND
The science of Nanotechnology has influenced industrial segments across all sectors and has been playing a significant role in various industry segments in the 21st century with nanotechnology-based products entering the consumer market. The governments across the world are funding the institutions involved in the research in the field of Nanotechnology.
The nanotechnology market is still at its nascent stage in many countries. The global nanotechnology market is projected to grow at a CAGR of around 19% during 2011-2013. It is expected that the global market for nanotechnology based manufactured goods will be worth US$ 1.6 Trillion, representing a CAGR of around 50% during 2009-2013.1
Currently, the Indian nanotechnology industry is valued at USD100m.2 According to a NASSCOM report, this sector is also expected to create 12 million new jobs by 2015. Indian companies have the huge potential to tap the nanotechnology market.
The Government of India has proposed several initiatives to promote Nanotechnology in India. The government has been promoting the nanotechnology industry in India through its three major funding agencies mentioned below;
IMPORTANT TRENDS IN THE INDUSTRY
Nanotechnology in India is very active in sectors like electronics, healthcare markets, and other industrial products. There are many exciting new fields that have opened up for nanotechnology experts. These fields include:3
Apart from this, Nanotechnology has various applications in the fields of Medicine, Chemistry, Energy, IT and Electronics, Heavy industries like aerospace.4 Many Indian organizations and companies are very active in these sectors and have entered into global collaborations.
MAJOR PLAYERS IN INDIA
IMPORTANT LAWS AFFECTING THE INDUSTRY
There are no specific laws that regulatory Nanotechnology in India however Nanotechnology products are regulated by sector specific laws including the Intellectual Property Laws. There has been a proposal to form a National Nanotechnology Regulatory Board for some time. But considering the pace with which Nanotechnology is making strides in India, a robust law governing this amazing science is the need of the hour.
Nanotechnology is not just a vision any longer; it's real science and technology. There are even a few working devices. We are building devices seven atoms wide, and actually going in and looking at this stuff. We have tools for manipulating molecules. It turns out to be easier to do than we thought. It's highly interdisciplinary, but the team participants have to really know their stuff. This is no longer a game for amateurs. Nor do we quite know what to do with the results. Fifty more years of Moore's Law gives us computers of nearly unimaginable complexity. Where will we go with them? What will we do? Think of devices as complex as human brains, but operating at gigahertz speeds. What would you do with such a device? But there is a need to have a regulation and development of law to regulate this amazing science, which is to give us a future we have not thought of.6
2 Research and Market Reports http://www.researchandmarkets.com/reportinfo.asp?report_id=2062461&t=e
6 Nanotechnology – A research paper by Nishith Desai Associates