India Development News & Foreign Investment Opportunities

Bioscience to Bioeconomy: US$100bn Target by 2025

Use biofuel more effectively

0

Use biofuel more effectively

 

PIB

India has set a target of US$100 billion biotech industry by 2025, backed by the current strong growth trajectory.

Setting the target, Health and Family Welfare Minister Dr Harsh Vardhan, has called on the industry to achieve more and emphasised that science has the potential to solve any problem of mankind.

Banking on the industry’s growth trajectory, Confederation of Indian Industry (CII) in partnership with the Department of Biotechnology held Global Bio-India 2019 21-23 November at Aerocity in New Delhi.

Petroleum and Natural Gas Minister Dharmendra Pradhan spoke on the need for India to use biofuels more effectively, pointing out that the industry has transferred biotechnology into an entrepreneurial mode.

Bio-fuel synergy is the solution to cut down the use of fossil fuels and we aim to process the same with our efforts together, he said.

Biotechnology Department Secretary Dr Renu Swarup underlined the need for providing a platform such as Global Bio-India for stakeholders to grow together.

She highlighted the government’s enabling policies which have helped create a vibrant environment.

“Moving forward, it is imperative that we need to further reach out to Tier II and Tier III cities,” said Dr Swarup.

“We are going to exceed the targets we have set and how Biotech has an impact on health and food security along with environmental sustainability,” elaborated Kiran Mazumdar Shaw, Chairperson and MD, Biocon.

She spoke on the socio-economic impact that biotech has across demographics and how the entire spectrum is accruing of these benefits.

She called for right enabling factors to prolifically patent Indian products.

India ranks 3rd globally in nano tech, 5th in scientific publications, and is among the top 4 nations to predict cyclones and tsunamis.

Three reports were released at the inaugural session: Indian Bio-Economy report 2019, India the emerging hub for Biological and Biosimilars and Indian biotechnology landscape – an international perspective. fiinews.com

Leave A Reply

Your email address will not be published.