Union Minister of Statefor Science and Technology, Dr Jitendra Singh said that there were about 50 Biotech Startups 8 to 9 years back, now the number is around 6,000. He was inaugurating a discussion meeting for fostering Biomanufacturing Initiative of the Department of Biotechnology (DBT), in New Delhi.
India’s bioeconomy was just about $8 Billion in 2014 and now it has grown up to $100 Billion, and we are targeting $150 Billion by 2025, he added. “We rank 12th in the world, 3rd in the Asia Pacific as far as bioeconomy is concerned and rank One in vaccine production.”
“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 the Samudrayaan project is going to dig the biodiversity beneath the seas,” he said.
In a recent survey of Class 12 students in Delhi it was found that Biotechnology was ranked as the preferred stream at fourth or fifth whereas earlier it didn’t figure anywhere as a career option, he said.
Dr Jitendra Singh said Biotechnology Startups is a different genre combining new research of Biology and Manufacturing, viz processing of living systems such as micro-organisms, self-cultures etc. So they could also be the instruments of manufacturing.
– PIB
