New Delhi: Union Minister of State (Independent Charge) Science and Technology DrJitendra Singh revealed here today that the number of Biotech StartUps in the country has increased from 50 to over 5,000 in the last 8 years, because of the support and enabling milieu provided by Prime Minister NarendraModi ever since he took over in 2014.
It is expected to cross the figure of 10,000 by 2025, he added.
In his address at the "Biotech Startup Expo 2022", DrJitendra Singh said, Biotech Startups are a rapidly growing sector, which through innovative solutions, creates jobs with direct societal connections. He said Biotech as a tool has wide applications not only in medical sciences but also in agriculture, animal sciences, pharmacology, forensic sciences etc.
The Union Minister said that Biotechnology is the key enabling technology driving the bio-economy that is recognized as a sunrise sector. He informed that India is ranked 12th in the world in biotech, 3rd in Asia-pacific and the largest vaccine manufacturer in the world.
Government through AatmaNirbhar Bharat is promoting biotech innovation missions and entrepreneurship, leveraging the strength of the strategic partnership, and building capacities across the country said the Minister.
DrJitendra Singh said, despite the challenges posed by the COVID-19 pandemic, the biotech sector, particularly in the R&D of vaccines, diagnostics, and therapeutics, has shown to the world that India has been at the forefront of fighting the pandemic and bringing out solutions not only for itself but for the whole world.