*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.
*The Department of Biotechnology (DBT), Government of India, is driving a transformative shift in North East India (NER) by integrating biotechnology with biodiversity conservation and economic growth. Since 2010, DBT has allocated 10% of its annual budget to specialized programs in NER, fostering research, education, and entrepreneurship. Biofoundries and biotech clusters represent a crucial step in India’s journey towards becoming a global leader in biotech innovation. With continued government support and industry collaboration, the sector is poised to break new ground, empowering startups to turn their ideas into impactful ventures.
* 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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