Biotechnology major Biocon has revealed its plans to pump Rs 100 crore in the coming fiscal with the aim to increase its research and development, to keep pace with increased orders from multinational firms, as leading worldwide firms have slashed their expenditure on R &D.

While commenting on the plans, Biocon Chairperson and Managing Director, Ms Kiran Mazumdar Shaw stated, "We will be investing Rs 100 crore in 2009-10 for enhancing our research and development."

According to the sources, the conglomerate has set aside an investment of Rs 60 crore for the current year.

The sources further revealed that the present economic slump has not affected Biocon much.

The funding of the expansion plan would be done through internal accruals.