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.
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