Excelsior Correspondent
NEW DELHI, Sept 12: “Global Bio India Unveils 30 Breakthrough Startups, Paving the Way for the Future of Biotech”, said Union Minister Dr. Jitendra Singh at the inaugural ceremony of Global Bio India 2024 here today at Pragati Maidan.
Addressing the inaugural ceremony in virtual mode,Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy and Department of Space, MoS Personnel, Public Grievances and Pensions, Dr. Jitendra Singh congratulated DBT and BIRAC for enabling the phenomenal growth and said India’s bio economy has experienced remarkable growth, skyrocketing from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030.
As India emerges as a Global Biotech Powerhouse, said Dr Jitendra Singh, Prime Minister Narendra Modi will be hailed across the world as the champion of the new Biotech Boom that promises to boost the economy, innovation, jobs, and environmental commitments.
Dr Jitendra Singh highlighted the ‘India BioEconomy Report 2024’ brought out by Department of Biotechnology and BIRAC that captures the phenomenal progress made by the Indian Biotech industry. He hailed the visionary leadership of Prime Minister Narendra Modi guiding us in this new era of Biotechnology transformation.
Highlighting the importance of Global Bio-India, Dr. Jitendra Singh said “GBI offers a unique business networking platform for varied participants, including Central and State Ministries, Startups, SMEs, Large industries, Bioclusters, Research institutes, Investors, Incubators, Regulators, Policy Makers, Business analysts, Legal, IP, CROs, Innovation missions from other countries, international bodies, Industry Associations”.
Dr. Jitendra Singh called the Global Bio-India 2024 a much bigger event as compared to 2023 with participation from 30+ countries, 500+ exhibitors, 5000+ delegates, 1000+ startups, B2B, B2G, G2G meetings and much more. Dr. Singh said “There are a billion reasons to invest in India, the reasons being India has 60% share of global vaccine production, it has the 2nd Highest number of USFDA approved manufacturing plants outside the USA. Opportunities for investments are available in Bio-Pharma, Bio-Agri, Bio-Industrial, Bio-energy, Bio-Services and Med-Tech.”
Underscoring that “Bio-revolution” in India is synonymous to the IT Revolution driven by the western world, Dr. Jitendra categorically 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, he called this policy as the timely intervention at this crucial juncture for our country in the backdrop 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.
He also reiterated the key areas of focus such as bio-based chemicals and enzymes, smart proteins, precision biotherapeutics, climate-resilient agriculture, carbon capture and utilisation, and advanced marine and space research. Dr. Jitendra Singh referred to these as the future of biotechnology and drive growth and innovation across various industries.
Emphasising on the employment opportunities being created, particularly in tier-II and tier-III cities he stated that biomanufacturing hubs will use local resources and contribute to regional economic development, promoting more inclusive growth.
Dr. Jitendra Singh gave clarion call to raise the bar, break barriers, and reach new heights. He said “With the momentum we’ve gained and the convergence of talent India@ 2047 will be a Biotechnology leader.
Dr. Kiran Mazumdar Shaw Executive Chairperson, Biocon Limited called for enhanced cooperation and collaboration to increase market share and volume of India’s Pharmaceutical sector. He also said “Biology will drive the economic growth in the future economy with leveraging innovation, investment, in intellectual property and sustainable growth.
Dr. Tina Sejersgard Fano Executive Vice President, Planetary Health BioSolutions, Novonesis thanked India for the Bio E3 policy and said “We need solutions for economy as well as environment.”
Prof. Ajay Kumar Sood, Principal Scientific Adviser, Government of India quoted the ‘Australian Strategic Pacific Institute ASPI’ report and said India is among the top countries in 45 out of 64 technologies as per the report and in 2nd position in Bio-tech manufacturing.
Dr. Rajesh S. Gokhale Secretary, Department of Biotechnology, Chairman, BIRAC and DG-iBRIC highlighted the pivotal role of such an international conference. Dr. N. Kalaiselvi DG, CSIR called this as the decade of Innovation and research; G S Krishnan President, Association of Biotech Led Enterprises;Dr. Jitendra Kumar Managing Director, BIRAC were also present at the inaugural ceremony.
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