Excelsior Correspondent
NEW DELHI, Aug 22 : Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh today said, India is set to achieve $150 billion Bio-Economy by 2025, which stood at over $100 billion in 2022.
The Minister was speaking, while overseeing the signing up of the ‘Implementation Arrangement’ between the Department of Biotechnology (DBT) and the United States-National Science Foundation (US-NSF) today in New Delhi. This was a follow-up of the discussion meeting held between Dr. Rajesh S. Gokhale. Secretary, DBT and Dr Sethuraman Panchanathan, Director, NSF in June, 2023 to discuss opportunities for developing ‘Strategic Partnership’ between DBT and US-NSF.
Dr Jitendra Singh said, India’s ever-growing Bio-Economy graph is going to contribute significantly to India’s Overall Economy. He said, India has a 3-5% market share in the global biotechnology industry and it ranks 12th in the world in biotech and 3rd in Asia-pacific.
The Minister said, India has the 3rd largest Startups ecosystem globally; and the largest vaccine manufacturer. Moreover, India’s ranking in global science and technology indices continues to rise and India has been ranked 40th among the innovative economies as per Global Innovation Index, 2022.
Dr Jitendra Singh pointed out that the Department of Biotechnology has created and nurtured a strong foundation in biotechnology innovation, research and manufacturing across segments such as bio-pharma, bio-services, agri biotech, industrial biotech, and bioinformatics through public-private partnership, Make-in-India and Atma Nirbhar Bharat initiatives of the Government.
Dr Jitendra Singh said, the climate change, inadequate resource utilization, an unsustainable pattern of material consumption and waste generation are global threats and require concerted sustainable interventions and therefore called for futuristic research and innovation strategies for accelerating Biomanufacturing are essential to address global sustainable goals. He said, accordingly, DBT has undertaken a major initiative on “Fostering High Performance Biomanufacturing- An integrated approach towards promoting circular economy for Green, Clean and Prosperous India” and added that it exemplifies ‘Lifestyle for the Environment (LIFE)’launched by Prime Minister that urges all stakeholders to pursue green and friendly environmental solutions in every aspect of life to effectively achieve climate and energy goals;
Dr Sethuraman Panchanathan, Director, NSF, said that “USA and India can together address pressing global needs such as climate mitigation and energy goals through biotechnology innovation and biomanufacturing”.
Dr Rajesh S. Gokhale, Secretary, DBT added that “this partnership will be an important step to mutually address the challenges in the innovation space as well as for enhancing technological opportunities. This will also bring synergy to DBT’s initiatives for fostering high performance Biomanufacturing- an integrated approach towards promoting circular economy for Green, Clean and Prosperous India”.
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