*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 60 BIRAC-supported bio-incubators.
*In the Union Budget 2023-24, the Department of Biotechnology (DBT) was allotted Rs. 1,345 crore (US$ 162.7 million) to promote R&D.
*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.
*100% under automatic route for greenfield projects for pharmaceuticals.
*While 74% is permitted under automatic route for brownfield projects, 100% under government route is permitted for brownfield investments.
*100% under automatic route is allowed for the manufacturing of medical devices.
*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.
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