New Delhi: Union Minister for Science & Technology, Harsh Vardhan, has said India has the potential to emerge as the world’s top industry destination in biotechnology sector.
Addressing the inaugural function of the 3-day Global Bio-India Summit 2019 in New Delhi today, Vardhan said India has the expertise and the biotechnology sector has witnessed exponential growth in recent decades. Harsh Vardhan and the Minister for Petroleum & Natural Gas and Steel Dharmendra Pradhan inaugurated the Summit today, as reported earlier by Indus Dictum.
Government has encouraged the sector by setting up hundreds of Biotechnology Parks and Incubators while supporting thousands of startups, he added.
Vardhan said Prime Minister Narendra Modi has set a target of making India the top country in Science & Technology by 2030. As compared to 5% growth in scientific publications worldwide, India has notched a growth of 14% in this sphere, he said.
“We have developed a number of vaccines and the rotavirus vaccine is now a part of the National Immunization programme, besides our laboratories have also produced vaccines against dengue and malaria. We are No.3 in Nanotechnology and our Tsunami Early Warning System has been ranked No.1 in the world,” added Vardhan.
The Minister said India plays a pioneering role in the UN sponsored Mission Innovation (MI) programme and is the leading country in three MI challenges on Smart Grids, Off-Grid Access to Electricity and Sustainable Biofuels.
He said we are a “Changed India” today, and as Modi has aimed, we will make a “New India” by 2022 and finally we aim to be the world leader, “Vishwa Guru.”
Vardhan said biotechnology serves mankind in helping to move towards a biotechnology-led economy, transforming as many lives as possible, creating opportunities and promising development for all.
He encouraged young innovators and entrepreneurs in the Biotech sector to come forward for the development of the country.
“Government of India will support and assist their ideas to make it a reality. As per the vision of former Prime Minister Atal Bihari Vajpayee, the wave of Information Technology 20 years ago is India today. and Biotechnology is the India tomorrow,” Vardhan said.
Secretary of the Department of Biotechnology, Renu Swarup, said the 3-day Biotechnology Summit will discuss the roadmap to achieve $100 billion bioeconomy target.
“We have scaled $51 billion already and the sector is growing at 14.7%. So the $100b target seems very modest,” Swarup said.
Harsh Vardhan and the Minister for Petroleum & Natural Gas and Steel Dharmendra Pradhan later inaugurated the Global Bio-India Exhibition.
Global Bio-India is one of the largest biotechnology stakeholders conglomerate being held in India for the first time. It has brought academia, innovators, researchers, startups, medium and large companies together on the same platform.
Over 3,000 delegates from around 25 countries and over 15 states of India are participating in the event. Over 200 exhibitors, 275 startups and more than 100 Biotechnology Incubators are participating.
Biotechnology is recognized as the sunrise sector- a key driver for contributing to India’s $5 trillion economy target by 2025.
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