India has a huge wealth of bioresources, says Minister
India’s bioeconomy is likely to touch US$150 billion this fiscal with prospects for US$300 billion by 2030, says Science and Technology Minister Dr Jitendra Singh.
The industry’s growth has been double-digit in past nine years from US$10 billion in 2014, he said on 4 Dec at the inauguration of 3rd Global Bio-India, a mega international congregation on Biotechnology.
“We have grown from just 55 (Biotech) Startups in 2014 to more than 6,000 today,” he said. There are over 3,000 Agritech Startups in areas like Aroma Mission and Purple Revolution.
The Minister said that Biotechnology will provide the “future value addition” to India’s economy in the years to come.
“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-km long coastline and under the Deep Sea Mission, we are going to dig the biodiversity beneath the seas,” he said.
The launch of Global Biofuel Alliance (GBA) will foster global collaboration for the advancement and widespread adoption of biofuels, he added.
Calling for wider synergy among Government, Academia, Startups and Industry, Dr Jitendra Singh said the dictum is: “The whole of Science, plus the whole of Government, plus the whole of the Nation.” Fiinews.com
