India’s bioeconomy has grown 8 times in the last 8 years under Prime Minister Mr. Narendra Modi: Union Minister Mr. Jitendra Singh
Mr. Jitendra Singh, the Union Minister of State, Science and Technology, said that India’s bioeconomy has grown 8 times in the last 8 years under Prime Minister Mr. Narendra Modi. The investments increased from US$ 10 billion in 2014 to over US$ 80 billion in 2022.
While addressing an “International Conference on Emerging Trends in Biosciences and Chemical Technology- 2022”, he said that the biotech start-ups have grown 100 times in the last 8 years from 52 start-ups in 2014 to around 5,300 in 2022. The conference was held from 3rd-5th December 2022 at Shri Mata Vaishno Devi University, School of Biotechnology, Jammu, with around 14 international participants.
Mr. Jitendra Singh quoted Prime Minister Narendra Modi to point out the five big reasons why India is being considered a land of opportunities in the field of biotech. Firstly, the diverse population and various climatic zones; Secondly, India's talented human capital pool; Third, increasing efforts for ease of doing business in India; Fourth, the demand for bio-products is increasing continuously in India and fifth, India's biotech sector and its track record of success.
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