* With a total population of 1.4 billion, 47% being under the age of 25, India has a large pool of young and skilled workforce.
* India has a large reservoir of scientific human resources including scientists and engineers.
* Biotechnology has emerged as a trending career option among the youth. According to a survey of Class 12th students in Delhi, Biotechnology was ranked as the preferred stream at No.4/5.
* 9 DBT-supported biotech parks and 73 BIRAC-supported bio-incubators.
* Dr. Jitendra Singh inaugurates the Northeast's first International Biotech Conclave.
*In February 2023, Serum Institute of India announces centre of excellence in Hyderabad to tackle future pandemics.
* In July 2023, 15 companies sign MoUs worth Rs. 2,000 crore (US$ 239.99 million), in a day, for investments in biotech sector.
* In August 2024, the Indian government introduced the BioE3 Policy (Biotechnology for Economy, Environment, and Employment) to promote high-performance biomanufacturing, aiming to drive green growth by enhancing R&D, fostering innovation, and creating jobs in sectors.
* National Biopharma Mission is supporting 101 projects including more than 150 organizations and 30 MSMEs. It has increased employment opportunities and engaged 1,065 manpower including 304 scientists/ researchers.
* While 74% is permitted under automatic route for brownfield projects, 100% under government route is permitted for brownfield investments.
* Patient pool expected to increase over 20% in the next 10 years, mainly due to rise in population.
* New diseases & lifestyle changes to boost demand for drugs and devices.
The Indian biotechnology industry amounted to US$ 63 billion in 2019 and is forecast to reach US$ 150 billion by 2025.
Union Minister of External Affairs, Dr. S. Jaishankar and Union Commerce an...
India’s sports technology market is poised for significant growth, pr...
Regional Rural Banks (RRBs) were established in 1975 to provide financial s...
Podcasts are transforming into an important segment for digital media in In...