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Title: Riding the IT Success Wave - Seema Singh, Red Herring Post by: Mark David on May 07, 2007, 12:28:28 PM The wave started with information technology and has now reached life sciences: using contract services to build bank balances and bolster the industry in India. And it is poised to go a long way, according to a contract research and manufacturing services (CRAMS) report released by Frost & Sullivan on Friday in Mumbai. The Indian CRAMS industry netted revenue of $895.44 million in 2006 and is expected to grow at about 33 percent annually to $6.6 billion by 2013. “This model is slowly moving up the value chain,” says Mahesh Sawant, program manager in Healthcare Practice at Frost & Sullivan in Mumbai. “And the focus is now shifting towards providing services in areas within contract research and manufacturing which were traditionally not looked at.”
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