Union Minister Jitendra Singh highlighted Kathua’s importance as the first biotech industrial park in North India and a thriving startup hub. By doing this, he brought attention to India’s rising stature in the world of biotechnology. Singh highlighted the nation’s biotech ecosystem’s explosive growth, pointing to the creation of 75 bio-incubators and over 6,500 enterprises. The Department of Biotechnology’s (DBT) Biotechnology Industry Research Assistance Council (BIRAC) launched these programs. Singh essentially highlighted Kathua’s significance as a turning point in India’s biotech development, highlighting national and regional contributions to the field of biotechnology worldwide.
Union Minister Jitendra Singh emphasized the impressive expansion of India’s bioeconomy, which has grown by 29% and surpassed the $100 billion mark. During the opening of the Biotech Startups Expo, which showcased new developments in North India, Singh declared that the bioeconomy has grown to a staggering $137.2 billion by 2022. He underlined how India’s bioeconomy contributes a substantial $11.4 billion per month to the country’s GDP.
Singh emphasised the group efforts and developments in the biotechnology industry, highlighting how they highlight India’s potential as a major player in the world market. The minister declared that the innovation ecosystem is flourishing and expressed India’s goal of ranking among the top ten biotechnology destinations globally as well as among the top five global hubs for biomanufacturing. In essence, Singh’s statements highlight India’s significant achievements, contributions, and aspirations in the dynamic and growing field of biotechnology.
Jitendra Singh, the Union Minister, emphasized the role that biotech startups will play in determining the direction of India’s economy. He emphasized how these startups have grown significantly, from about 50 in 2014 to an astounding 6,756 in 2022. Singh underlined how important it is to give these creative companies’ sustainability and growth top priority. Furthermore, he emphasized the critical role that ecosystem support plays in enabling biotech startups to continue growing and guaranteeing their influence as India develops on a national and international level. Singh essentially underlined the critical strategic importance of creating a robust and long-lasting environment for biotech innovation to make a substantial contribution to the nation’s economic growth.
