India (Commonwealth Union)_ Union Minister Jitendra Singh highlighted India’s emergence as a global leader in biotechnology, emphasizing the significance of Kathua, housing North India’s inaugural biotech industrial park, as a burgeoning startup hub. Singh noted the rapid growth of the biotech ecosystem in the country, boasting over 6,500 startups and 75 bio-incubators established by the Department of Biotechnology (DBT) – Biotechnology Industry Research Assistance Council (BIRAC). While addressing the inauguration of the Biotech Startups Expo on ‘Emerging Startup Trends in North India,’ held at the biotech park in Kathua, Singh reported a remarkable 29 percent surge in India’s bioeconomy, surpassing the milestone of $100 billion.
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The bioeconomy reached an impressive $137.2 billion in 2022, contributing $11.4 billion monthly to the national GDP. Singh affirmed that India’s comprehensive efforts and advancements in biotechnology highlight its potential as a global player in the field. The minister expressed India’s aspiration to emerge as one of the top five global bio-manufacturing hubs and among the top 10 biotechnology destinations globally. He highlighted the pivotal role of biotech startups in shaping the country’s future economy, citing their growth from around 50 in 2014 to over 6,756 in 2022. He also stressed the need to focus on the sustainability and scaling up of innovators and enterprises, advocating for a conducive ecosystem to create a national and global impact.
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Singh acknowledged the recognition of startups and companies for their societal contributions and emphasized the nurturing of talent pools and providing opportunities for startups to seed, succeed, and scale. He said, “The startups and companies are now getting recognised because of their efforts towards the betterment of society. We have come a long way in nurturing the talent pool and providing opportunities to startups to seed, succeed, and scale”. He also emphasized the support provided to the emerging biotech ecosystem in Jammu and stressed the importance of industry-academia collaborations.
Additionally, Singh called for broader synergy among professions to achieve the “Amrit Kaal” goals in the next 25 years, foreseeing the youth of Kathua as significant contributors to India’s global leadership by its 100th year of independence in 2047. The Biotech Startups Expo hosted over 200 delegates and 25 biotech startups, showcasing innovations in various biotechnology areas. Startups focused on solving local problems using local resources, such as medicinal plants and essential oil-bearing plants. Furthermore, the event also highlighted the increasing participation of women entrepreneurs, with at least five startups led by women present at the expo. The one-day event included closed-door interactions with industry, academia, scientists, entrepreneurs, and local public representatives, with the presence of representatives from DBT, BIRAC, autonomous institutes, and the scientific community.
