India's Biotechnology Sector Experiences Exponential Growth, Eyes $150 Billion by 2025

In a virtual address at the pre-event summit 'Biotechnology: The Path of Innovation & Wellness for Viksit Bharat,' Dr. Mansukh Mandaviya, Union Minister for Health & Family Welfare, highlighted India's remarkable strides in the field of biotechnology. The minister disclosed that the country's 'Bio-Economy' has burgeoned eightfold in the past eight years, soaring from $10 billion to an impressive $80 billion.

Addressing the audience at Vigyan Bhavan, Science City, Ahmedabad, alongside Chief Minister Shri. Bhupendra Patel, Dr. Mandaviya emphasized the pivotal role that biotechnology is poised to play in the future of health treatment. He projected the Indian Biotech Industry's ambition to reach $150 billion by 2025 and an ambitious $300 billion by 2030. Currently, India holds a solid position among the top 12 destinations globally for Biotechnology, commanding approximately 3% of the Global Biotechnology Industry.

In his address, Dr. Mandaviya expressed the belief that the biotechnology industry is poised to evolve into a platform for addressing intricate challenges across diverse sectors, including agriculture, environment, and industrial production. Foreseeing a future shift, he asserted that the economy will increasingly rely on biotechnology. Additionally, he referenced Prime Minister Shri Narendra Modi's perspective, stating that India is anticipated to emerge as one of the top ten nations in the global biotechnology ecosystem.

Reiterating the Prime Minister's vision of India becoming a developed nation by 2047, Dr. Mandaviya underscored the instrumental role the biotechnology sector will play in achieving this goal.

Reiterating the Prime Minister's vision of India becoming a developed nation by 2047, Dr. Mandaviya underscored the instrumental role the biotechnology sector will play in achieving this goal.

Highlighting the sector's growth and prowess, the Union Minister credited India's success in producing vaccines during the pandemic as a testament to the country's biotechnological prowess. He further praised the National Biotechnology Development Strategy 2020-25 for providing a platform to strengthen skill development, resource, and innovation, creating a robust ecosystem for knowledge sharing.

Dr. Mandaviya commended the active participation of startups, industries, researchers, and academicians across the nation for their contributions to the development of the biotechnology sector.

The Chief Minister also inaugurated the 'Start-Up Product Launch,' symbolizing the state's proactive approach towards fostering innovation and entrepreneurship in the biotechnology sector.