New Delhi
Union Minister of State (Personnel) Jitendra Singh said that the number of biotech startups in India has increased rapidly from 50 to about 9,000 in the last 10 years. He described this growth as the result of a spectacular transformation in the country’s bio-economy. At an event organized in New Delhi, he said that India’s bio-economy was worth $10 billion in 2014, which will increase to more than $130 billion by 2024. This industry is expected to reach $300 billion by 2030.
The minister said that keeping in mind the challenges like pollution and climate change, the government has given priority to sustainability. He also said that there was a time when India was not taken seriously on climate and green issues, but now the situation has changed.
Referring to Prime Minister Narendra Modi’s commitment to India to achieve “net zero” emissions target by 2070 at COP-26 in 2021, the minister said the government has taken several steps in this direction. These include programs like Green Hydrogen Mission, Climate Change Mission and Deep Sea Mission.
The Minister described the recently launched ‘Bio E-3 Policy’ as an important step towards solving problems like climate change and unsustainable waste. This policy will prove helpful in promoting sustainable development. The minister said that the development of biotech startups will strengthen India’s future economy. He said that these efforts have made India a leader in the global bioplastics movement, showing how biotechnology can contribute to a clean and sustainable future.
