India’s bio-economy has grown eight times in the last eight years, from ten billion dollars to 80 billion dollars, according to Prime Minister Narendra Modi.
Mr Modi said today at the launch of the Biotech Startup Expo – 2022 at Pragati Maidan in New Delhi that India is on the verge of joining the top ten countries in the global biotech ecosystem.
According to Mr. Modi, the number of start-ups in the country has increased from a few hundred to 70 thousand in about 60 different industries in the last eight years.
India is Land of Opportunities” in the biotech sector: PM Modi
Due to India’s diverse population, diverse climatic zones, talented human capital pool, efforts toward ease of doing business, and demand for bio products, Prime Minister Narendra Modi said the country is being dubbed the “Land of Opportunities” in the biotech sector.
He added that as India celebrates its 75th year of independence, the biotech sector will play a critical role in speeding up development initiatives for the next 25 years.
Advancing science and technology
Mr Modi stated that science and technology are now at the heart of development in all sectors, and that the government’s unprecedented investments in physical and digital infrastructure have given the biotech industry a boost.
He claimed that the Centre has launched a number of initiatives aimed at bringing together the best minds in research and development, which are resulting in breakthroughs that are advancing science and technology.
Sabka Saath-Sabka Vikas
According to the Prime Minister, India has met its ten percent ethanol blending in gasoline target and has pushed back the target of blending 20 percent ethanol in gasoline from 2030 to 2025 by five years.
Mr. Modi also stated that the mantra of Sabka Saath-Sabka Vikas applies to various sectors, and that all sectors are now being promoted in the overall government strategy.
Dr. Jitendra Singh, Minister of Science and Technology, said the government is working on the next level of startup, which is sustainable start-ups.
Biotech Startup Expo – 2022
The Biotech Startup Expo – 2022 is a two-day event to commemorate the ten-year anniversary of the Biotechnology Industry Research Assistance Council’s establishment. The Department of Biotechnology and the Biotechnology Industry Research Assistance Council, or BIRAC, are hosting the event.
Entrepreneurs, investors, industry leaders, scientists, researchers, bio-incubators, manufacturers, regulators, and government officials will all be able to meet at the Expo.
The Expo will feature approximately 300 stalls showcasing biotechnology applications in a variety of fields, including healthcare, genomics, biopharma, agriculture, industrial biotechnology, waste-to-value, and clean energy.
