At the inaugural ceremony of Global Bio India 2024 held today at Pragati Maidan, Union Minister Dr. Jitendra Singh announced, “Global Bio India 2024 Unveils 30 Breakthrough Startups, Paving the Way for the Future of Biotech.”
During his address at the Global Bio India 2024 Conference, Dr. Jitendra Singh, who holds multiple ministerial roles including Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, as well as MoS for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances, and Pensions, praised DBT and BIRAC for their contributions to the sector’s phenomenal growth.
He highlighted that India’s bio economy has surged from $10 billion in 2014 to over $130 billion in 2024, with expectations to reach $300 billion by 2030.
As India rises as a global biotech powerhouse, Dr. Jitendra Singh stated that Prime Minister Narendra Modi will be recognized worldwide as the champion of the new biotech boom, which promises to enhance the economy, innovation, job creation, and environmental commitments.
Dr. Singh emphasized the ‘India Bio Economy Report 2024’ released by the Department of Biotechnology and BIRAC, showcasing the remarkable progress of the Indian biotech industry. He praised Prime Minister Modi’s visionary leadership in steering this new era of biotechnology transformation.
Highlighting the significance of Global Bio-India 2024, Dr. Singh mentioned that “GBI provides a unique business networking platform for a diverse range of participants, including Central and State Ministries, Startups, SMEs, Large industries, Bioclusters, Research institutes, Investors, Incubators, Regulators, Policy Makers, Business analysts, Legal, IP, CROs, Innovation missions from other countries, international bodies, and Industry Associations.”
Reflecting on the journey, he commended DBT-BIRAC for successfully organizing three editions of Global Bio-India. He also recalled that the first Startup Expo for the biotech sector was held in June 2022, inaugurated by Prime Minister Modi.
Dr. Jitendra Singh described Global Bio India 2024 as a significantly larger event compared to 2023, with participation from over 30 countries, more than 500 exhibitors, 5000+ delegates, 1000+ startups, and numerous B2B, B2G, and G2G meetings. He stated, “There are a billion reasons to invest in India, including its 60% share of global vaccine production and the second highest number of USFDA-approved manufacturing plants outside the USA. Investment opportunities abound in Bio-Pharma, Bio-Agri, Bio-Industrial, Bio-energy, Bio-Services, and Med-Tech.”
Emphasizing that the “Bio-revolution” in India is akin to the IT revolution driven by the western world, Dr. Singh highlighted the BioE3 (Biotechnology for Economy, Employment, and Environment) Policy recently approved by the Union Cabinet under Prime Minister Modi’s leadership.
Detailing the BioE3 Policy, he described it as a timely intervention at a crucial juncture, given the backdrop of global climate change, to foster a cleaner, greener, and more prosperous India. He expressed confidence that this new policy would significantly contribute to the global economy while protecting the environment.
Dr. Jitendra Singh also emphasized key focus areas such as bio-based chemicals and enzymes, smart proteins, precision biotherapeutics, climate-resilient agriculture, carbon capture and utilization, and advanced marine and space research. He identified these as the future of biotechnology, driving growth and innovation across various industries.
The BioE3 Policy will support this transformation by establishing state-of-the-art biomanufacturing facilities, bio foundry clusters, and Bio-AI hubs. These biotech hubs will bridge the gap between research and commercial manufacturing, fostering collaboration between startups, SMEs, and established companies, thereby boosting high-performance biomanufacturing and the bioeconomy. The integration of AI to analyze large-scale biological data will pave the way for advancements in gene therapies and food processing, added the minister.
Highlighting the employment opportunities being created, particularly in tier-II and tier-III cities, he stated that biomanufacturing hubs will utilize local resources and contribute to regional economic development, promoting more inclusive growth.
Dr. Jitendra Singh called for raising the bar, breaking barriers, and reaching new heights. He said, “With the momentum we’ve gained and the convergence of talent, India@2047 will be a biotechnology leader.”
‘India Bio Economy Report 2024’ unveiled at the Global Bio India BIRAC signs 9 Letters of Intent with leading international organizations
The Biotechnology Industry Research Assistance Council (BIRAC) signed Letters of Intent with nine leading international organizations in biotechnology, namely:
- United States Pharmacopeial Convention (USP)
- UK Research and Innovation (UKRI), UK
- DHR Holding India Pvt. Ltd. (Danaher)
- Mauritius Institute of Biotechnology Ltd (MIBL)
- La Trobe University
- Blockchain for Impact (BFI)
- US-India Strategic Partnership Forum (USISPF)
- IBioM (Indian Biotech MSME and Startup Foundation)
- Bharat Startup and Innovation Society (BSIS) – Bharat Startup Festival
The Indian Bio Economy Report 2024 was launched at Global Bio India 2024, along with the BIRAC Compendium of Products and Technologies 2024. The event also saw the introduction of the GBI Exhibitor Directory, Insights into BIRAC Equity Fund, and the Amrit Grand Challenge JanCARE Innovations Report.
Dr. Kiran Mazumdar Shaw, Executive Chairperson of Biocon Limited, called for increased cooperation and collaboration to expand India’s pharmaceutical sector’s market share and volume. He stated, “Biology will drive economic growth in the future economy by leveraging innovation, investment in intellectual property, and sustainable growth.”
Dr. Tina Sejersgard Fano, Executive Vice President of Planetary Health BioSolutions at Novonesis, expressed gratitude for India’s BioE3 policy, stating, “We need solutions for both the economy and the environment.”
Prof. Ajay Kumar Sood, Principal Scientific Adviser to the Government of India, referenced the Australian Strategic Policy Institute (ASPI) report, noting that India ranks among the top countries in 45 out of 64 technologies and holds the second position in biotech manufacturing.
Dr. Rajesh S. Gokhale, Secretary of the Department of Biotechnology, Chairman of BIRAC, and DG-iBRIC, emphasized the importance of such international conferences. Dr. (Mrs.) N. Kalaiselvi, DG of CSIR, declared this the decade of innovation and research. Mr. G S Krishnan, President of the Association of Biotech Led Enterprises, and Dr. Jitendra Kumar, Managing Director of BIRAC, were also present at the inaugural ceremony.
