New Delhi, April 25: Union Minister Dr. Jitendra Singh announced on Friday that India’s bio-economy is expected to reach $1 trillion by 2047, positioning the country among the top three bio-economies globally.
Speaking at an international conference held at IIT Roorkee, the minister stated that the 21st century, driven by a biology-based economy, will be “India’s century.”
According to an official statement, the minister highlighted that with policy reforms, robust institutional frameworks, and a rapidly growing innovation ecosystem, India is advancing towards full technological potential, from genes to qubits and from the depths of the oceans to outer space.
He mentioned the advancements in emerging technologies, noting that the National Quantum Mission has achieved several significant milestones ahead of schedule, while India has secured top positions in various critical technology sectors globally.
Dr. Singh pointed out that India’s bio-economy has surged from $10 billion in 2014 to over $165 billion today, growing at an annual rate of approximately 18%. The target is to reach $300 billion by 2030.
A statement from the Ministry of Science and Technology revealed that the number of biotechnology startups has increased dramatically from around 50 to over 11,000.
He also referenced the National Research Foundation (NRF) with a fund of ₹50,000 crore and the Research, Development, and Innovation (RDI) fund of ₹1 lakh crore, aimed at providing long-term, low-cost financing for deep technological innovation.
Dr. Singh showcased several major scientific achievements in recent years, including progress under Genome India, indigenous CAR-T cell therapy, the development of mRNA vaccine platforms, and India’s first indigenous antibiotic.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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