THURSDAY, March 28, 2024
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India expects biotech sector to more than double in next 4 years

India expects biotech sector to more than double in next 4 years

India is aiming for the phenomenal growth of its biotech sector from US$70 billion to $150 billion in the next four years and this cannot be accomplished without the active participation of women, Minister of State in the PM’s Office Jitendra Singh said on Sunday.

India is moving from women-specific to women-led projects in the biotech start-ups sector, he noted after releasing a book based on “Compendium of 75 Women Biotech Entrepreneurs” at the Biotech Start-up Expo in New Delhi.

Singh said over the past eight years, the number of women-owned biotech companies has seen an exponential rise and this could be aptly described as women-led empowerment, rather than just women empowerment.

The minister said that women scientists have carved a niche for themselves in space, nuclear science, drone and nanotechnology and added that many of the big scientific projects, including the most ambitious manned mission Gaganyaan to be launched in 2023, were being led by women scientists.

He said that one of the key pillars of the prime minister’s “New India” initiative was the success story of women innovators in the country.

Singh revealed that the number of biotech start-ups in the country has increased from 50 to over 5,000 in the last eight years, because of the support provided by Prime Minister Narendra Modi since he took over in 2014.

“It is expected to cross the figure of 10,000 by 2025,” he added.

The minister further added that biotechnology was the key enabling technology driving the bio-economy that was recognised as a sunrise sector. He said India was ranked 12th globally and third in Asia-Pacific in biotech and the global leader in vaccine manufacturing.

The Statesman

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India expects biotech sector to more than double in next 4 years

 

 

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