India’s ‘bio economy’ has grown eight times in the last eight years – Dr. Mandaviya. Loktej Business News
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New Delhi, 11 December (HS). Union Health Minister Dr. Mansukh Mandaviya said that India’s ‘bio economy’ has increased eight times in the last eight years from $ 10 billion to $ 80 billion. In the future, biotechnology will become the biggest basis of health treatment. Dr. Mansukh Mandaviya said this while virtually addressing the conference organized before the 10th Vibrant Gujarat Global Summit in Ahmedabad, Gujarat on Monday.
Dr. Mandaviya said that the Indian biotechnology industry aims to grow to $150 billion by 2025 and to $300 billion by 2030. India currently accounts for about 3 per cent of the global biotechnology industry and is among the top 12 destinations in the world. He said, “This industry will become a medium to find solutions to complex problems in agriculture, environment, industrial production and many other areas and in the future the economy will become biotechnology based.”
“In the global biotechnology ecosystem, India will soon be among the top ten countries,” said Dr. Mandaviya.
“The National Biotechnology Development Strategy 2020-25 provides a platform for the government to transform knowledge sharing into a robust ecosystem of skill development, resources and innovation,” the Union Minister said.
Dr. Mandaviya appreciated the participation of startups, industries, industry associations, researchers and academicians from across the country for contributing to the development of the biotechnology sector. The Union Health Minister appreciated Gujarat’s dedicated efforts and contribution on biotechnology over two decades and its strong contribution in making India a healthcare and innovation ready country. The Union Health Minister said that Gujarat was the first state in the country to set up a Biotech Mission 15-20 years ago.
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