Minister sees Indian Biotechnology potential in global trade
India needs more Biotech StartUps to build a US$150 billion sector as these are crucial to future economy, Minister of State Science and Technology Dr Jitendra Singh has told a meeting for fostering Biomanufacturing Initiative of the Department of Biotechnology (DBT) in New Delhi on 8 July 2023.
“Now we have around 6,000, so, I think, we still need to have more,” stressed Dr Jitendra Singh, underlining the merits and huge potential of Biotechnology in this country.
Biotechnology and Bioeconomy has grown up to US$100 billion in India from just about US$8 billion in 2014.
“Now we are targeting US$150 billion Biotechnology ecosystem by 2025. This is going to be the ‘future value addition’ to India’s economy in the years to come,” he said.
The Minister sees the Indian Biotechnology potential to become an instrument of global trade.
“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,” he elaborated.
“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.
“Tools like synthetic technology, genome editing, microbial bioresources and metabolic engineering are now talked about more often, particularly when we linked it (genetic engineering) with the management of diseases, people got more enthusiastic,” he highlighted.
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 among others, 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,” he pointed out.
“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.
To mark the ‘World Bioproduct Day’, Dr Jitendra Singh also launched the DBT social media campaign #IChooseLiFE to promote Biomanufacturing and making use of bioproducts. Fiinews.com
