New Delhi [India], November 4 (ANI): Union Minister for Science and Technology Jitendra Singh has expressed confidence that India is on the path to becoming one of the top 5 global bio-manufacturing hubs by 2025.
According to a press release by the Ministry of Science and Technology, emphasising the remarkable growth of India’s bioeconomy in recent years, Singh outlined the nation’s potential to play a crucial role in global trade and the bio-economy, contributing significantly to the Indian economy.
Singh made these comments during the launch of the website for “Global Bio-India 2023,” a major international event focused on biotechnology, scheduled to be held at Pragati Maidan from December 4 to December 6.
Singh said, “In 2014, India’s bioeconomy stood at just about USD 10 billion; today, it is USD 80 billion. In just 8/9 years, it has gone up 8 times and we look forward to having USD 300 billion by 2030”.
Under the leadership of Prime Minister Narendra Modi, India’s bioeconomy has witnessed double-digit year-on-year growth for the past nine years.
In 2014, the bioeconomy was valued at approximately USD 10 billion, and today it stands at USD 80 billion. Singh further outlined the ambitious target of reaching USD 300 billion by 2030.
India’s vast biodiversity, unique bioresources in the Himalayas, and 7,500-kilometer coastline provide a competitive advantage in biotechnology. Additionally, initiatives like Samudrayaan, exploring biodiversity beneath the seas, showcase India’s dedication to harnessing untapped bioresources.
Singh highlighted the substantial growth of biotechnology startups in India, which has surged from just 52 startups in 2014 to over 6,300 at present.
“Biotech Startups have grown 100 times in the last 8 years, from 52 odd startups in 2014 to 6,300 plus presently. Every day, threeBiotech Start-Ups are getting incorporated in India with aspirations to provide viable technological solutions,” he said.
He noted that three biotech startups are incorporated in India every day, indicating a strong drive to provide innovative technological solutions.
In Singh’s view, biotechnology represents the technology of the future, as the information technology (IT) sector has reached a saturation point.
Singh said, “Biotechnology provides you with a milieu, an environment that will be clean, Greener and more compatible with your well-being, and then your stake gets linked. And as time passes, it also generates lucrative sources of livelihood, as well as alternatives to petrochemical-based manufacturing, like bio-based products like food additives, bioengineering ties, and animal feed products”.
Singh praised the Department of Biotechnology’s support for R&D innovations in advanced biofuels and ‘Waste to Energy’ technologies, highlighting India’s potential to reduce waste and enhance recycling.
He emphasised that collaboration between various sectors, including government, academia, industry, and startups, is crucial to harnessing India’s untapped potential.
Citing Prime Minister Modi’s vision of an Atmanirbhar Bharat (self-reliant India), Singh underlined the success of India’s vaccine strategy, Mission Suraksha, which united pharma, industry, and academia to meet current and future challenges.
Singh acknowledged India’s growing prominence in the field of preventive healthcare and the successful accomplishments of missions like Chandrayaan-3 and DNA vaccines, which have placed India’s scientific community on the global stage.
“We had everything, but we were possibly waiting for an enabling milieu to happen. And that enabling milieu had to come from the level of the policymakers, from the level of the political leadership and that happened after Prime Minister Modi came in,” Singh said.
Singh said, “We have to fulfil global benchmarks, global strategies and a global outlook”.
“Anusandhan NRF will combine scientific and technological innovation and the wisdom of the humanities and social sciences,” said Singh.
He commended Prime Minister Modi’s efforts to create an enabling environment for entrepreneurship and industry growth. The Anusandhan National Research Foundation (NRF), envisioned by Prime Minister Modi, is set to drive research and development, positioning India as a global R&D leader in the next five years.
Singh called for wide-ranging synergy among various professions to achieve India’s goals for the next 25 years, embracing the mantra: “The whole of science, plus the whole of government, plus the whole of the nation.”
Rajesh Gokhale, the Secretary of the Department of Biotechnology, highlighted the DBT and BIRAC’s role in supporting biological manufacturing and nurturing the startup innovation ecosystem. (ANI)
This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
