Union Minister for Health & Family Welfare inaugurated the second edition of Global Bio-India-2021
Q. What is this?
Mega international congregation of Biotechnology.
India was ranked 48th in the Global Innovation Index Report 2020.
According to the World Bank's Ease of Doing Business Report 2020, India is now ranked 1st among South-Asian countries compared to 6th rank in 2014.
Organisers: Department of Biotechnology, and its Public Sector Undertaking Biotechnology Industry Research Assistance Council (BIRAC) in partnership with industry association Confederation of Indian Industry (CII), Association of Biotechnology Led Enterprises (ABLE) and Invest India.
ABLE is a not-for-profit pan-India forum that represents the Indian Biotechnology Sector.
Q. What is Biotechnology?
Biotechnology is technology that utilizes biological systems, living organisms or parts of this to develop or create different products.
Biotechnology deals with industrial scale production of biopharmaceuticals and biologicals using genetically modified microbes, fungi, plants and animals.
The applications of biotechnology include therapeutics, diagnostics, genetically modified crops for agriculture, processed food, bioremediation, waste treatment, and energy production.
Q. What about Biotechnology Sector of India?
Biotechnology sector is recognized as one of the key drivers for contributing to India's USD 5 Trillion economy target by 2024.
Policy initiatives of the Government of India (GoI) such as the Make in India program are aimed to develop India as a world-class Biotechnology and Bio-manufacturing hub.
India is among the top-12 destinations for biotechnology in the world, with approximately 3%share in the global Biotechnology industry.
Indian Biotechnology industry's economy was valued at USD 70 billion in 2020 and is expected to grow to USD 150 billion by 2025.
The Department of Biotechnology has established Biotechnology Parks/Incubators across the country to translate research into products and services by providing necessary infrastructure support.
These Biotechnology Parks offer facilities to Scientists, and Small and Medium sized Enterprises (SMEs) for technology incubation, technology demonstration and pilot plant studies for accelerated commercial development of Biotechnology.
Q. What is the Draft National Biotech Development Strategy 2020-24?
It has called for more engagement with startups and to leverage the public-private partnership (PPP) model to take the industry to USD150 billion by 2025.
To build and nurture a vibrant startup, entrepreneurial, and industrial base, connecting academia and industry.
Strengthening and nurturing of a strong basic research and innovation driven ecosystem across research institutes and laboratories, both public and private sector, with complete engagement of startups, small industry, and large industry.