August 5, 2020

Improvements may help India’s biotechnology economic system to hit USD 100 billion by 2025: Amitabh Kant

NEW DELHI: The Indian biotechnology area has potential to develop to USD 100 billion in dimension by 2025 on the again of improvements in bio-manufacturing applied sciences, Niti Aayog CEO Amitabh Kant stated on Friday.

Addressing a webinar titled ‘International Perspective on India’s Biotech Potential: Manufacturing Hub & Overseas Funding’, Kant stated India is working to spice up the biotechnology sector beneath the flagship programmes like ‘Make in India‘ and ‘Startup India‘.

“India’s biotechnology economic system can strategy USD 100 billion in 2025 if the appropriate insurance policies are put in place, giving trade the required stimulation,” he stated. Kant stated India has established biotechnology parks and incubators throughout the nation to facilitate scientists and MSMEs with expertise demonstration, together with pilot research for accelerated industrial growth.

Noting that a rise within the variety of biotech incubators can enhance analysis and promote the expansion of startups, Kant stated, “Improvements in bio-manufacturing applied sciences are essential for the success of the Indian biotech trade.”