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NEW DELHI: “Next Industrial Revolution will be Bioeconomy driven “, said Union Minister Dr. Jitendra Singh at the Curtain Raiser ceremony of ‘4th edition of Global Bio India 2024′ at National Media Centre, New Delhi.
If the last industrial revolution in 1990s was IT driven , the next one in 21st century will be Bioeconomy driven, he dsid
Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh recalled the clarion call of Prime Minister Shri Narendra Modi of ‘StartUp India Stand Up India ‘ which ushered a new revolution in StartUps related to technology science and innovation many of them related to marine economy, Space economy and Bioeconomy.
Global Bio-India, a Mega International event for national and international biotech stakeholders is a strategic initiative by the Department of Biotechnology and its Public Sector Unit, BiotechnologyIndustry Assistance Research Council (BIRAC) to propel and position India’s biotechnology sector into the global spotlight.
The Global Bio-India 2024: The largest Biotech event in the Country will be held on 12-14 September, 2024 at Hall No. 5, Pragati Maidan, New Delhi
High level business and technical delegations would be able to witness India’s growing Bio-Economy and growth trajectory supported through Government Of India’s Policies and continued support commitment integrated with the private’ sector.. This is expected to provide a boost to both “MakeIn India” and “Startup India” national missions for the biotech sector.
Dr. Jitendra Singh highlighted Government priority in boosting the bioeconomy and referred to the interim budget mentioned bio economy and bio foundry which is usually avoided by governments in election years. He said “our priority is to empower the nation and its economy irrespective of Political compulsions.
Underscoring the impact of Biotechnology, Dr. Jitendra Singh highlighted that India’s bio-economy has grown 13-fold in the last 10 years from $10 billion in 2014 to over $130 billion in 2024.It is projected to reach US$300 billion by 2030. He said “India which ranked 81 in 2015, has risen to 40th rank out of 132 economies in the Global Innovation Index”.
The Science and technology minister highlighted that India ranks 3rd In Asia Pacific and 12th globally in terms of Bio manufacturing. And appreciated the efforts of the Department of Bio technology and BIRAC to spearhead the culture of Innovation and support to companies involved in the development of Biotechnology. He also said that the quantum jump in Bioeconomy and enterprises is a vindication that time has come for Both government and non-government sectors to collaboratively work and find answers to challenges faced by mankind. He also referred to COVID pandemic and underscored that it may have come as a crisis for many but it certainly realised the importance of Biotechnology to the whole world.
Dr. Jitendra Singh shared that in the coming times the science technology and innovation (STI) will progress at a much faster pace as Anusandhan NRF bill propelled by him in the parliament has been passed just before the model code conduct. He remarked that there will more investment and Participation from Private sector as compared to the government and the knowledge and economic resources will prove to be a boon. He referred to the ‘Bio-Nest’ which acts as an incubator for startups with more than 120 startups by the end of this financial year.
The Minister also quoted examples from some new biotechnology products in the vegan category which are becoming popular. He also highlighted the huge employment and entrepreneurship potential of the bio-tech sector and its impact on other sectors such as pharma, food processing, agriculture and enterprise.
Dr. Jitendra Singh also emphasised on early industry linkage and dropping the scepticism against private participation.
Dr. Rajesh Gokhale, Secretary Department of Bio-technology Said ” ₹ 75000 crore valuation achieved by companies in biotechnology sector in 10 yrs” . He also highlighted that it is one of the sunrise sectors with nearly 28,000 proposals being evaluated for upscaling.
