Under the leadership of Prime Minister Shri Narendra Modi, India’s bioeconomy has experienced consistent double-digit growth over the past nine years: Dr. Jitendra Singh.
Dr. Jitendra Singh emphasized that biotechnology, being a technology of the future, holds immense potential, especially as information technology has already reached its saturation point.
The Union Science and Technology Minister launched the website for “Global Bio-India – 2023,” a significant international biotechnology event scheduled to take place at Pragati Maidan next month.
Union Minister Dr. Jitendra Singh has expressed India’s potential to become one of the top 5 global bio-manufacturing hubs by 2025. Speaking at the launch of the “Global Bio-India – 2023” website, a significant international biotechnology event scheduled for December 4-6, 2023, Dr. Jitendra Singh highlighted the role of biotechnology in global trade and the bio-economy, emphasizing its contribution to India’s overall economy.
Under the leadership of Prime Minister Shri Narendra Modi, India’s bioeconomy has witnessed remarkable growth, with a double-digit growth rate year-on-year over the past nine years. India is now recognized as one of the top 12 biotechnology destinations globally, with its bioeconomy expanding from $10 billion in 2014 to $80 billion today, a growth of 8 times in just 8-9 years. Dr. Jitendra Singh emphasized that India aims to reach $300 billion in its bioeconomy by 2030.
He stressed that biotechnology is poised to be a highly lucrative source of livelihood in the coming years, with significant contributions to various sectors such as health, medicine, agriculture, industry, and bioinformatics. Biotech startups have seen remarkable growth, increasing from 52 startups in 2014 to over 6,300 at present. Dr. Jitendra Singh highlighted the potential of biotechnology in generating clean, green, and bio-based products, offering alternatives to petrochemical-based manufacturing, and fostering livelihood opportunities.
India’s rich biodiversity, extensive coastline, and initiatives like Samudrayaan for underwater biodiversity exploration in the seas provide a unique advantage in biotechnology. Dr. Jitendra Singh also emphasized the significance of agritech startups, particularly in areas like Aroma Mission and Lavender cultivation, which have led to innovative solutions and economic opportunities.
He mentioned that biotechnology startups have grown significantly, with a focus on biology and manufacturing, including micro-organisms and self-cultures. Dr. Jitendra Singh also highlighted the growing trend of biotechnology as a career option among the youth, with tools like synthetic technology, genome editing, microbial bioresources, and metabolic engineering gaining prominence.
The Minister noted Prime Minister Shri Narendra Modi’s vision of Atmanirbhar Bharat and the success of India’s vaccine strategy, Mission Suraksha, which established India as a vaccination hub. He emphasized the need for collaboration with the private sector and the Anusandhan National Research Foundation (NRF) to position India as a global research and development leader.
Dr. Jitendra Singh called for synergy among all professions to achieve the “Amrit Kaal” goals, emphasizing the collective effort needed to fulfill global benchmarks and strategies.
In his address, Dr. Rajesh Gokhale, Secretary of the Department of Biotechnology (DBT), mentioned DBT’s support for biological manufacturing, startup innovation, and fostering the innovation ecosystem.