India emerges as a Global Biotech Powerhouse
Global Bio India Unveils 30 Breakthrough Startups, Paving the Way for the Future of Biotech
Addressing the inaugural ceremony of Global Bio India 2024 New Delhi’s Pragati Maidan last week, 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 unveiled 30 Breakthrough Startups that could pave the way for the Future of Biotech.
He congratulated Indian scientists 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, Prime Minister Narendra Modi will be hailed across the world as the champion of a new Biotech Boom that promises to boost the economy, innovation, jobs, and environmental commitments, said Dr Jitendra Singh.
He highlighted the ‘India Bio Economy Report 2024’ brought out by the Department of Biotechnology and BIRAC (Biotechnology Industry Research Assistance Council) that captures the phenomenal progress made by the Indian Biotech industry. He hailed the visionary leadership of Prime Minister Shri. Narendra Modi is 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”.
Tracing the journey, he lauded the DBT-BIRAC for successfully organising three editions of Global Bio-India. He also recalled that the first Startup Expo for the Biotech Sector was also organized in June 2022 which was inaugurated by Prime Minister, Shri Narendra Modi.
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 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 back drop 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 utilization, 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.
The BioE3 Policy will support this transformation by establishing cutting-edge bio-manufacturing facilities, bio foundry clusters, and Bio-AI hubs. The biotech hubs will bridge the gap between research and commercial manufacturing, fostering collaboration between start-ups, SMEs, and established companies, thereby boosting High performance Bio-manufacturing and Bio-economy. Integration of AI to analyse large-scale biological data, will pave the way for advancements in gene therapies and food processing, added the minister.
Emphasizing on the employment opportunities being created, particularly in tier-II and tier-III cities he stated that bio-manufacturing 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.
Incidentally, Biotechnology Industry Research Assistance Council (BIRAC) has signed Letter of Intent with 9 leading international organisations in Biotechnology namely
1. United States Pharmacopeial Convention (USP)
2. UK Research and Innovation (UKRI), UK
3. DHR Holding India Pvt. Ltd. (Danaher)
4. Mauritius Institute of Biotechnology Ltd (MIBL)
5. La Trobe University
6. Blockchain for Impact (BFI)
7. US-India Strategic Partnership Forum (USISPF)
8. BioM (Indian Biotech MSME and Startup Foundation)
9. Bharat Startup and Innovation Society (BSIS)- Bharat Startup Festival
The Indian Bio Economy Report 2024 was also launched at the Global Bio India 2024 along with BIRAC Compendium of Products and Technologies 2024. In addition, the event also witnessed the launch of GBI Exhibitor Directory coupled with Insights into BIRAC Equity Fund and Amrit Grand Challenge JanCARE Innovations Report.
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. She also said “Biology will drive the economic growth in the future economy by 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 the economy as well as the 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 on 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. (Mrs.) N. Kalaiselvi, DG, CSIR, called this as the decade of Innovation and research; Mr. G S Krishnan President, Association of Biotech Led Enterprises; Dr. Jitendra Kumar Managing Director, BIRAC were also present at the inaugural ceremony.
