India's bio-economy grew from USD 10 billion to USD 80 billion in 8 years: Mansukh Mandaviya
India's bio-economy has grown eight times in the last eight years from USD 10 billion to USD 80 billion, Union Health Minister Mansukh Mandaviya said on Monday, underlining that in the coming times, biotechnology will become the biggest foundation for medical treatment. The Indian biotech industry aims at growing to USD 150 billion by 2025 and USD 300 billion by 2030, he noted while virtually addressing an event «Biotechnology: The Path of Innovation and Wellness for Viksit Bharat» held at the at Vigyan Bhavan in Ahmedabad.
Mandaviya said India is currently among the top 12 destinations for biotechnology in the world with approximately three per cent share in the global biotechnology industry.
The event, which was attended by Gujarat Chief Minister Bhupendra Patel, was held in the run up to the 10th Vibrant Gujarat Global Summit.
The summit is scheduled to be held in Gandhinagar in January with the theme — 'Gateway to the Future'.
«This industry (biotechnology) will become a medium for finding solutions for complex problems in various spheres such as agriculture, environment, industrial production and many more.
In the light of this, in the future, the economy will become biotechnology based,» Mandaviya said.
Reiterating Prime Minister Narendra Modi's vision of India achieving the status of a developed country by 2047, Mandaviya cited that «this sector's contribution will be instrumental in making India a developed nation.»
Highlighting the growth and prowess of the biotechnology industry, he said the vaccines produced by India during the Covid pandemic showcased the country's power in the field of biotechnology to the world.
