Indian Economy News

India's economy surged to $80 bn from $10 bn in last 8 years: PM Modi at Biotech Startup Expo

  • IBEF
  • June 10, 2022

India's 'bio economy,' according to Prime Minister Mr. Narendra Modi, has grown eight times in the last eight years, from US$ 10 billion to US$ 80 billion. He said the Biotech Startup Expo will enhance the 'Aatmanirbhar Bharat' initiative in this sector after inaugurating the two-day event in Delhi.

In addition, he also listed five reasons why India is seen as a place of opportunity in the field of biotechnology: diverse population and climatic zones, human capital pool, ease of doing business, increased demand for bio-products, and a successful track record in the Biotech sector.

Mr. Modi also discussed the phenomenal growth of startups in India, particularly in the field of biotechnology. More than 5,000 biotech start-ups have come up in the last eight years since the BJP government came to power.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.