Blitz Bureau
NEW DELHI: India’s bio-economy has experienced remarkable growth, skyrocketing to over $130 billion in 2024, and is expected to reach $300 billion by 2030, Union Minister of State (Independent Charge) for Science and Technology Jitendra Singh said.
Speaking at the inaugural ceremony of ‘Global Bio India 2024’ in the national capital, Jitendra informed there are 30 breakthrough startups, paving the way for the future of biotech.
“As India emerges as a global biotech powerhouse, , Prime Minister Narendra Modi will be hailed across the world as the champion of new Biotech Boom, that promises to boost the economy, innovation, jobs, and environmental commitments,” said Jitendra.
“There are a billion reasons to invest in India. The reasons being India has 60 per cent share of global vaccine production, it has the second highest number of FDA-approved manufacturing plants outside the US,” Jitendra added.
Jitendra mentioned the BioE3 (biotechnology for economy, employment and environment) policy recently approved by the Union Cabinet under the leadership of PM Modi.
Sharing details on the BioE3 Policy, Jitendra called this policy as the timely intervention at this crucial juncture “for our country in the back drop of global climate change to enable creation of a cleaner, greener, and prosperous India”.
He expressed confidence that the new policy would contribute significantly to the global economy while protecting our environment.
