The Minister of State (Independent Charge) for Science & Technology, as well as the Minister of State in the Prime Minister’s Office (PMO), overseeing Personnel, Public Grievances, Pensions, Atomic Energy, and Space, inaugurated the “Global Bio-India – 2023” website. The event is a significant international gathering focusing on Biotechnology, scheduled to take place at Pragati Maidan from December 4th to December 6th, 2023.
During the launch, Union Minister Dr. Jitendra Singh highlighted that India is on track to emerge as one of the top five Global Bio-manufacturing Hubs by 2025. He emphasized that Biotechnology holds the potential to serve as a crucial driver of global trade and contribute significantly to India’s overall economy and the bio-economy sector.
Dr Jitendra Singh said, ‘Our Bioeconomy witnessed double digit growth rate year-on-year in the last 9 years. India is now being rated among top 12 biotechnology destinations in the world. 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.’
The upcoming Bioeconomy is poised to become a highly lucrative source of livelihood in the foreseeable future. The Biotechnology sector in India has undergone significant evolution over the past three decades, making substantial contributions to diverse fields such as Health, Medicine, Agriculture, Industry, and Bio-Informatics.
Biotech StartUps
Dr. Jitendra Singh emphasized the critical role of Biotech Startups in shaping India’s future economy. Notably, the number of Biotech Startups has surged by 100-fold over the past eight years, rising from a mere 52 in 2014 to over 6,300 at present.
Furthermore, the country is witnessing the incorporation of three new Biotech Start-Ups daily, each striving to offer viable technological solutions. Dr. Singh also highlighted that, as Information Technology (IT) has reached its saturation point, Biotechnology is poised to be the technology of tomorrow.
Biotechnology Startups represent a distinct genre that combines novel research in Biology and Manufacturing, particularly focusing on the processing of living systems, including micro-organisms, self-cultures, and similar entities. This unique field holds significant promise for advancements in various sectors, including healthcare, agriculture, and environmental sustainability, among others.
‘India has a huge wealth of bioresources, an unsaturated resource waiting to be harnessed and an advantage in Biotechnology especially due to the vast biodiversity and the unique bioresources in the Himalayas. Then there is the 7,500 kms long coastline and last year we launched the Samudrayaan which is going to dig the biodiversity beneath the seas,’ he said.
Biotechnology provides you with a milieu, an environment which will be Clean, Greener and more compatible with your well-being, then your stake gets linked. And as time passes by, it also generates lucrative sources of livelihood, also the alternatives to the petrochemicals-based manufacturing, like bio-based products like food additives, bioengineering ties, animal feed products, minister said.
Presently, the Agritech industry boasts over 3,000 thriving startups, making remarkable strides, particularly in ventures like the Aroma Mission and Lavender cultivation. Notably, around 4,000 individuals are actively involved in Lavender cultivation, generating substantial income, with several among them displaying remarkable innovation despite lacking high qualifications. The Department of Biotechnology has been actively fostering research and development innovations, particularly in the domains of Advanced Biofuels and ‘Waste to Energy’ technologies.
‘In the future, garbage will be reduced to Zero. Everything will be recycled,’ he said, citing the recycling technology developed by the Dehra Dun based Indian Institute of Petroleum (CSIR-IIP) by designing a van that collects waste cooking oil and converts it into biofuel.
Biotechnology has emerged as a trending career option among the youth. Tools like Synthetic Technology, Genome Editing, Microbial Bioresources and Metabolic Engineering are now talked about more often.
