PM Narendra Modi inaugrates Biotech Startup Expo

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Biotech Startup Expo 2022 is the biggest Bio Event that showcases the opportunities in Indian Biotech Sector. The Secretary for Department of Biotechnology, Government of India, Dr. Rajesh Gokhale started the event with his speech and thanked the Prime Minister for his vision of promoting startups in India.

Dr. Gokhale said, ‘The startup expo is an opportunity to experience the growth and advances of Biotechnology innovations.’ He added, ‘ As we move into the AmritKaal, biotechnology is going to be the major player in finding solutions to people’s problems.

The Minister of State for the Ministry of Science and Technology, Dr. Jitendra Singh said ‘We had a total of 50 biotech startups in India in 2014 but today we have 5300 biotech startups and I hope that by 2025 we will cross the count of 10,000.’

India’s Bio-Economy has increased to 8 times in the last 8 years. we have reached to 80 arab dollars from 10 arabs. India, soon, is going to make it in the list of biotech’s global ecosystem.

Prime Minister Shri Narendra Modi

PM added that we are exploring every way that can give momentum to our growth. Talking about India’s strong point that is its service sector, he said that ‘by focusing on the service sector we have made a record of 250 Billion Dollars. And by focusing on Goods Exports, we have made a record of 420 Billion Dollar on goods exports.’

If we implement the PLI scheme to the Textile Sector then we can expand the scheme for the Drones, Semiconductors, High Efficiency Solar, PM module, PV Modules. PM added that the count of the startups in India in the last 8 years has increased to 70,000 from some hundreds.

These 70,000 startups are created in almost 60 different industries and more than 5,000 startups are the part of Biotech industry. It means that in India, every 14th startup that is in the making belongs to the Biotech Sector. And more than Biotech 1100 startups are added in the last 1 year.

In the last years, Our steps in line with Atal Innovation Mission, Make in India, and Atmanirbhar Bharat Abhiyan has created a positive impact in the Biotech sector. After the commencement of Startup India, we saw the 9 times increase pertaining to the investments in the Biotech sector.

“Biotech sector is one of the most Demand Driven Sectors. The campaigns for Ease of Living in India over the years have opened up new possibilities for the biotech sector.”

Prime Minister Shri Narendra Modi

PM also informed that the Biotech incubators and funding for them has increased by 7 times and number of Bio tech incubators have increased from 6 in 2014 to 75 now. Biotech products have increased from 10 products to more than 700 today.

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