India is on track to become one of the top five global bio-manufacturing hubs by 2025, according to Union Minister Dr. Jitendra Singh. The Minister highlighted the role of biotechnology in contributing to India’s overall economy and stressed that it has the potential to be a vital instrument of global trade and bio-economy.
Speaking at the launch of the “Global Bio-India – 2023” website, Dr. Jitendra Singh emphasized the significant growth of India’s bioeconomy, which has increased eightfold from $10 billion in 2014 to $80 billion today. He projected a goal of reaching $300 billion by 2030.
The Minister noted that the biotechnology sector has evolved over the last three decades, making substantial contributions to various fields, including health, medicine, agriculture, industry, and bioinformatics. He highlighted the remarkable growth of biotech startups, which have increased from 52 in 2014 to over 6,300 today.
Dr. Jitendra Singh underlined the importance of biotechnology as the technology of the future, particularly as the information technology (IT) sector has reached saturation. India’s rich biodiversity and unique bioresources in the Himalayas, along with its extensive coastline, provide a significant advantage in biotechnology.
The Minister also discussed the digitization of the legal system, focusing on the implementation of phase 3 of the e-court project to create a more citizen-centric judiciary.
In addition to advancements in biotechnology, Dr. Jitendra Singh highlighted the role of India in the global vaccine strategy, emphasizing the country’s recognition as the vaccination hub of the world. He praised Prime Minister Narendra Modi’s vision of Atmanirbhar Bharat (self-reliant India) and the creation of an enabling environment for entrepreneurship and thriving industries.
The Minister emphasized the need for broader synergy among all professions to achieve the “Amrit Kaal” goals over the next 25 years, uniting science, government, and the nation to fulfill global benchmarks and strategies.
Secretary of the Department of Biotechnology, Dr. Rajesh Gokhale, also highlighted the role of the department and its public sector undertaking (PSU) in supporting biological manufacturing and nurturing the startup innovation ecosystem.
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