New Delhi, Nov 04: Union Minister Dr Jitendra Singh on Saturday announced India’s ambitious goal of becoming one of the top 5 Global Bio-manufacturing Hubs by 2025.
Speaking at the launch of the website for “Global Bio-India – 2023,” an international biotechnology congregation scheduled from December 4-6, 2023, at Pragati Maidan, Dr Singh highlighted the potential of biotechnology in driving India’s global trade and bio-economy, contributing significantly to the nation’s overall economic growth.
Under the leadership of Prime Minister Narendra Modi, India’s bioeconomy has experienced remarkable growth, witnessing a double-digit growth rate year-on-year over the last nine years. Dr Singh noted that India’s bioeconomy, which stood at $10 billion in 2014, has now surged to $80 billion, indicating an eightfold increase in just eight to nine years. With a vision for the future, Dr Singh expressed confidence in India reaching $300 billion in bioeconomy by 2030, emphasizing the enormous potential biotechnology holds for generating livelihood opportunities.
Addressing the importance of biotechnology, the union minister highlighted its evolution over the last three decades, making significant contributions to sectors such as health, medicine, agriculture, industry, and bioinformatics. He emphasized the crucial role of Biotech Startups, which have grown from 52 in 2014 to over 6,300 at present. Dr Singh stressed that biotechnology represents the technology of tomorrow, especially as IT reaches its saturation point.
India possesses vast bioresources, offering a unique advantage in biotechnology, particularly due to its rich biodiversity and the diverse bioresources in the Himalayas.
Biotechnology Startups, according to Dr Singh, represent a distinctive genre that combines biology research and manufacturing, leading to cleaner, greener environments and offering viable alternatives to petrochemical-based products. Notable successes include over 3,000 Agritech Startups, particularly in areas like Aroma Mission and Lavender cultivation, where innovative approaches have transformed the agricultural landscape and created significant livelihood opportunities.
Dr Singh acknowledged the Department of Biotechnology’s efforts in supporting R&D innovations in Advanced Biofuels and ‘Waste to Energy’ technologies, contributing to India’s vision of a sustainable and eco-friendly future. He called for collective efforts from various stakeholders, including the government, academia, industry, startups, investors, and philanthropic organizations, to achieve these ambitious goals.
Dr Jitendra emphasized the need for synergy among all professions, encapsulated in the motto: “The whole of Science, plus the whole of government, plus the whole of the Nation.” The government’s initiatives and collaborations underscore India’s commitment to fostering innovation, entrepreneurship, and sustainable development, positioning the country as a global leader in the field of biotechnology.
