GG News Bureau
New Delhi, 13th Sept. The fourth edition of Global Bio India 2024, inaugurated today at Pragati Maidan by Union Minister Dr. Jitendra Singh, has set the stage for transformative advancements in the biotechnology sector. The event spotlighted 30 groundbreaking startups, marking a significant milestone in the growth of India’s biotech industry.
Addressing the gathering, Dr. Singh highlighted the remarkable expansion of India’s bio economy, which has surged from $10 billion in 2014 to over $130 billion in 2024. The sector is projected to reach $300 billion by 2030, reflecting India’s rising status as a global biotech powerhouse.
Dr. Singh lauded Prime Minister Narendra Modi for his pivotal role in this biotech boom, predicting that Modi will be celebrated worldwide as a champion of this new era.
The conference also saw the release of the ‘India Bio Economy Report 2024,’ detailing the sector’s progress and future prospects. Dr. Singh commended the Department of Biotechnology (DBT) and the Biotechnology Industry Research Assistance Council (BIRAC) for their instrumental role in fostering this growth.
Global Bio India 2024 is hosting participants from over 30 countries, including more than 500 exhibitors and 5,000 delegates. Dr. Singh emphasized the event’s role as a premier business networking platform, bringing together diverse stakeholders from startups, SMEs, large industries, research institutions, and policy makers.
Among the significant developments, BIRAC signed nine Letters of Intent with prominent international organizations, including the United States Pharmacopeial Convention (USP) and UK Research and Innovation (UKRI). These partnerships aim to enhance global collaborations and technological advancements in biotech.
Dr. Singh introduced the BioE3 Policy, which focuses on biotechnology for the economy, employment, and environment. This policy is expected to drive innovation in biomanufacturing, bio-based chemicals, and climate-resilient agriculture, supporting India’s transition towards a greener and more prosperous future.
The event also featured a range of new initiatives, including the GBI Exhibitor Directory, insights into the BIRAC Equity Fund, and the Amrit Grand Challenge JanCARE Innovations Report.
Noteworthy figures such as Dr. Kiran Mazumdar Shaw, Prof. Ajay Kumar Sood, and Dr. Rajesh S. Gokhale also shared their perspectives, underscoring the importance of collaboration and innovation in propelling India’s biotech sector forward.
Dr. Singh’s address culminated in a call to action for the biotech community to leverage India’s unique position and drive further advancements, setting ambitious goals for the future of the sector.
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