Science and Technology Minister Dr Jitendra Singh has said that India is poised to be among top five Global Bio-manufacturing Hubs by 2025. He said, Biotechnology has the potential to become an important instrument of global trade and bio-economy contributing to India’s overall economy.
Launching the website of Global Bio-India-2023 which will be held in New Delhi next month, Dr Singh said, Indian Bioeconomy has witnessed double digit growth rate year-on-year in the last nine years under the leadership of Prime Minister Narendra Modi. He said, India is now being rated among top 12 biotechnology destinations in the world.
The Minister said, in 2014, India’s bioeconomy stood at just about 10 Billion dollars and today it is 80 Billion dollars. He said, in just nine years it has gone up eight times and India is looking forward to have 300 Billion dollars by 2030. Dr Singh said, Bioeconomy is going to be a hugely lucrative source of livelihood in the times to come.