Prime Minister Narendra Modi has said India’s diverse population and climatic zones are among the top factors behind the growth of the country’s biotech industry. He also highlighted the potential of bio start-ups and bio-professionals in India.
PM Modi inaugurated the Biotech Startup Expo – 2022 at Pragati Maidan in the national capital .
“In the last eight years, the number of start-ups in our country has increased from a few hundred to 70,000 in about 60 different industries. More than 5,000 start-ups are associated with the biotech sector India’s bio-economy has grown eight times in the last eight years. We have grown from USD 10 billion to USD 80 billion,” PM Modi said.
He said India is only a few steps away from becoming one of the top 10 countries in the global ecosystem of biotech.
“India is not very far from reaching the league of top-10 countries in the global ecosystem of biotech. The trust in the skill and innovation of our IT professionals in the world is at new heights. This trust and reputation can also be seen in this decade for the biotech sector and bio professionals of India,” PM Modi said.
Prime Minister listed out five factors behind the success of India’s biotech sector.
“There are five big reasons why India is being considered a land of opportunities in the field of biotech. First- diverse population and diverse climatic zones; second India’s talented human capital pool; third – increasing efforts for ease of doing business in India; fourth – the demand for bio-Products is increasing continuously in India; and fifth- India’s biotech sector that is the track record of its successes,” the prime minister said.