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Saturday, March 2, 2024

India is emerging as world leader in Biotechnology, says Jitendra Singh

Dr. Jitendra Singh, Union Minister of State for Science & Technology, highlighted the rapid growth of India’s biotech ecosystem, with over 6500 start-ups and 75 bio-incubators set up by the Department of Biotechnology (DBT) – Biotechnology Industry Research Assistance Council (BIRAC).

The BioEconomy in India has experienced a 29% surge, surpassing the $100 billion milestone and reaching $137.2 billion in 2022. Each month, India’s BioEconomy contributes $11.4 billion to the national GDP.

India’s collective efforts in the biotechnology sector underscore the nation’s potential as a global player. The innovation ecosystem continues to flourish, and India aims to become one of the top 5 Global Bio-manufacturing Hubs and among the top 10 biotechnology destinations globally.

The rise of Biotech Startups is pivotal for the country’s future economy, with these startups experiencing remarkable growth from just about 50 in 2014 to over 6,756 in 2022.

Singh stressed the importance of focusing on the sustainability and scale up of innovators and enterprises, providing an enabling ecosystem to create a national and global impact.

He emphasized the need for broader synergy among all professions to achieve the “Amrit Kaal” goals over the next 25 years, particularly for the youth of Kathua, who will be among the great contributors towards making India a ‘Vishwa Guru’ when celebrating its 100 years of independence in 2047.

The Biotech Startups Expo at Biotech Park, Kathua, saw more than 200 delegates and 25 Biotech Startups showcasing their innovations in different areas of biotechnology. The event also featured closed-door interactions with industry, academia, scientists, entrepreneurs, and local public representatives.

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