Biotech start-ups are crucial to India’s future economy: Dr Jitendra Singh
Author: BI Bureau
New Delhi: Union Minister of State (Independent Charge) for Science and Technology Dr Jitendra Singh has said that the Biotech start-ups are crucial to India’s future economy.
“We had just about 50 Biotech Startups 8 to 9 years back, now we have around 6,000, so, I think, we still need to have more,” said Dr Jitendra Singh, inaugurating a discussion meeting for fostering Biomanufacturing Initiative of the Department of Biotechnology (DBT), here recently.
Dr Jitendra Singh said Prime Minister Shri Narendra Modi awakened India to the merits and huge potential of Biotechnology in this country.
“India’s bioeconomy was just about $8 Billion in 2014 and now under Prime Minister Narendra Modi we have at least awakened to the merits of Biotechnology and Bioeconomy. It has grown up to $100 billion. Now we are targeting $150 billion by 2025,” he said.
“India has a huge wealth of bioresources, an unsaturated resource waiting to be harnessed and an advantage in Biotechnology especially due to the vast biodiversity and the unique bioresources in the Himalayas. Then there is the 7,500 kms long coastline and last year we launched the Samudrayaan which is going to dig the biodiversity beneath the seas,” he said.
Dr Jitendra Singh said that biotechnology has emerged as a trending career option among the youth. In a recent survey of Class 12 students in Delhi it was found that Biotechnology was ranked as the preferred stream at No.4/5 whereas earlier it didn’t figure anywhere as a career option, he said.
Dr Jitendra Singh said Biotechnology Startups is a different genre combining new research of Biology and Manufacturing, viz processing of living systems such as micro-organisms, self-cultures, etc. So, they could also be the instruments of manufacturing.
“Biotechnology provides you with a milieu, an environment which will be clean, greener and more compatible with your well-being, then your stake gets linked. And as time passes by, it also generates lucrative sources of livelihood, also the alternatives to the petrochemicals-based manufacturing, like bio-based products like food additives, bioengineering ties, animal feed products,” he said. /BI/
