Go Back

MoUs worth Rs 16,000 cr in IT and Rs 5,022 cr in Bio-Technology sectors inked

Times of India:  January, 2017

Ahmedabad: On the second day of Vibrant Gujarat Global Summit-2017 54 MoUs worth Rs 5,022 crore by 37 companies in the maximum possibilities holding sector of 21st century - Biotechnology was signed today. Along with biotechnology; 89 MoUs worth Rs 16,000 crore was signed in IT sector today.

At the beginning of a seminar on Biotechnology as a part of Vibrant Global Summit held here at Mahatma Mandir of Gandhinagar, these MoUs were signed with state government in presence of state education minister Bhupendrasinh Chudasama, Nobel Laureates Dr Harold Varmus, and Dr Vijay Raghavan, secretary - Biotechnology - Government of India and company representatives from the companies involved in biotechnology and IT sectors.

The companies who have signed MoUs with state government and expressed interest to invest in biotechnology sector are: 14 companies signed worth Rs 2,228 crore for Pharma and Health-care biotechnology sectors, 4 companies signed worth Rs 2,076 crore for industrial biotechnology sector, 3 companies signed worth Rs 605 crore for B.T. infrastructure sector, 15 companies signed worth Rs 93.1 crore for agriculture and biotechnology sectors, 5 companies signed worth Rs 29.5 crore for environment and biotechnology sectors, 4 companies signed worth Rs 24 crore for bio-service sector, 3 companies signed worth Rs 20.5 crore for marine biotechnology sector, 2 companies signed worth Rs 3.7 crore for bio-informatics and 1 company signed worth Rs 2 crore in biotechnology instrumentation sector etc.

Among this list, 37 companies have signed MoUs worth Rs 4,822 crore to initiate new industries in biotechnology sector and 15 companies have signed MoUs worth Rs 269 crore for the development of their running industries in biotechnology sector.

On the occasion state education minister Bhupendrasinh Chudasama considered 21st century as the century of biotechnology and said that new opportunities will be created in pharmacy, agriculture, environment, industries and marine sectors through MoUs signed in biotechnology and IT sectors of the state.

State government has announced various policies such as health, agriculture industry and startup etc. out of them biotechnology policy will include new dimension in the development of the state. About 1 lakh employment opportunities will be created with development of biotechnology based industries in the state.