Page 31 - NIS English 01-15 July 2022

Biotech Nation

India aims to become world's biotech hub

Biotech is a sector that not only contributes significantly to the country's GDP but also creates a large
number of jobs. It is the result of continuous efforts of the Central Government that in the last 8 years,
India's biotech sector has managed to reach an 80 billion dollar bio-economy with 8 times growth.
Now is the time to move forward with new goals and an event like Biotech Startup Expo is a step in this
direction. Launching it on June 9, Prime Minister Narendra Modi said, "India is not far from reaching the
league of top-10 countries in Biotech's global ecosystem."

In the difficult period of Covid, when doubts were
raised in the country, about the efficacy of available Infinite potential in the biotech sector ...
medical devices, medical, infrastructure, vaccine India is in the top 12 destinations for
research, and manufacturing, India achieved what biotechnology in the world and third in Indo-
no one had even imagined. The coordination of Pacific. With the Global Innovation Index
government and industry with biotech and all other improving to 46th position, India's bio-
sectors has scripted a new success story. But behind economy is growing in double digits year on
this phenomenal success is the hard work and efforts year, reaching 81 billion in 2021, compared
of the last 8 years, with a special focus on sectors to 51 billion in 2018. We are approaching the
like biotech. The biotech sector has received a boost 150 billion target by 2025, as evidenced by
the double-digit growth over the Covid years.
from initiatives like Startup India, Atal Innovation The number of biotech incubators and total
Mission, Make in India, and Self-Reliant India. Giving funding has also increased almost 7 times. In
a new direction to these efforts, Biotech Startup 2014, when there were only 6 bio incubators in
Expo was organized on 9-10 June at Pragati Maidan, our country, today their number has increased
Delhi. Inaugurating it, Prime Minister Narendra Modi to 75. 8 years ago there were 10 biotech
said, "Trust is at a new height in the world regarding products in our country. Today their number
the skill and innovation of our IT professionals. This has exceeded 700.
same trust, this same reputation, is being witnessed
in this decade in India's biotech sector, and India's 9 fold increase in number
of Investors in Biotech
bio-professionals. " Startups 4232 5343
The Prime Minister also spoke about the contribution 3397 2021*
of the Biotechnology Industry Research Assistance 2662 2020
Council (BIRAC) to the development of this sector 1732 2019
in the country. The Prime Minister said that today 1022 2018
when the country is taking new resolutions during 732 2017
the Amrit period, the role of the biotech industry in 2015 2016 Year Investors
the development of the country is very important. * Provisional

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