Union Minister Dr Jitendra Singh has said that India is poised to be among top 5 Global Bio-manufacturing Hubs by 2025. The Science & Technology Minister said, Biotechnology has the potential to become an important instrument of global trade and bio-economy contributing to India's overall economy.
The Minister of State (Independent Charge) Science & Technology, MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, said this while launching the website of "Global Bio-India – 2023", a mega International congregation on Biotechnology, to be held at Pragati Maidan from 4-6 December, 2023.
Dr Jitendra Singh said that our Bioeconomy witnessed double digit growth rate year-on-year in the last 9 years under the leadership of Prime Minister Shri Narendra Modi. India is now being rated among top 12 biotechnology destinations in the world, he said.
“In 2014, India’s bioeconomy stood at just about $10 Billion, today it is $80 Billion. In just 8/9 years it has gone (up) 8 times and we look forward to having $300 Billion by 2030,” he said.
Dr Jitendra Singh said, Bioeconomy is going to be a hugely lucrative source of livelihood in the times to come. “Biotechnology sector in India has evolved over the last three decades and has made significant contributions to various sectors including Health, Medicine, Agriculture, Industry and Bio-Informatics,” he said.
Dr Jitendra Singh said, Biotech StartUps are crucial to India’s future economy.
“Biotech Startups have grown 100 times in the last 8 years from 52 odd startups in 2014 to 6,300 plus presently. Every day 3 Biotech Start-Ups are getting incorporated in India with aspirations to provide viable technological solutions,” he said.
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