India Gears Up for Biotech Revolution: Global Bio-India 2024 on the Horizon

India is poised to be a key player in the next industrial revolution driven by bioeconomy. The nation will host Global Bio-India 2024, showcasing its advancements in biotechnology. Minister Jitendra Singh affirmed the government's focus on enhancing the biotech sector, which has seen substantial growth over the past decade.

India is positioning itself at the forefront of the next industrial revolution, driven by advancements in bioeconomy. Science and Technology Minister Jitendra Singh announced on Wednesday that the country will host the Global Bio-India 2024 event, set to take place from September 12-14. The mega event will attract over 5,000 participants, including notable business leaders, to highlight India's progress in the biotechnology sector.

According to Singh, the upcoming industrial revolution will be significantly influenced by bioeconomy, much like how IT drove the revolution in the 1990s. The Global Bio-India event, in its fourth edition, is a strategic initiative spearheaded by the Department of Biotechnology and the Biotechnology Industry Assistance Research Council (BIRAC) to bolster India's global standing in biotechnology.

Singh emphasized the government's commitment to empowering the nation's economy through biotech advancements, a sentiment reiterated by the interim budget's focus on bioeconomy and bio foundry. He pointed out the remarkable growth of India's bioeconomy, which expanded from USD 10 billion in 2014 to over USD 130 billion in 2024, with a projection to reach USD 300 billion by 2030.

The minister also highlighted the anticipated rise in private sector investments and participation, which will be instrumental in leveraging both knowledge and economic resources for the sector's benefit.

(With inputs from agencies.)