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Global Bio-India-2021

  • 03 Mar 2021
  • 5 min read

Why in News

Recently, the Union Minister for Health & Family Welfare inaugurated the second edition of Global Bio-India-2021 in New Delhi through virtual mode.

  • It showcases the strength and opportunities of India's biotechnology sector at national level and to the global community.
  • The minister unveiled the “National Biotech Strategy” and also inaugurated the Virtual Exhibition of Global Bio-India at the occasion.

Key Points

  • About:
    • It is a mega international congregation of Biotechnology, with stakeholders including international bodies, regulatory bodies, Central and State Ministries, SMEs, large industries, bioclusters, research institutes, investors, and the startup ecosystem.
  • Aim:
    • It aims at facilitating the recognition of India as an emerging Innovation Hub and the bio-manufacturing hub globally.
  • Objectives:
    • Bio- Partnering, Policy Discussions, CEO's plans for India and connecting Indian Biotech ecosystem with international ecosystem and creating platforms for new idea evaluation and investments.
    • Showcase and identify key biotechnological innovations, products, services, technologies from national and international companies, start-ups and research institutes.
    • Attracting major contract projects from international companies as well as major global venture funding into India.
  • Organisers:

Biotechnology

  • Biotechnology is technology that utilizes biological systems, living organisms or parts of this to develop or create different products.
  • Biotechnology deals with industrial scale production of biopharmaceuticals and biologicals using genetically modified microbes, fungi, plants and animals.
  • The applications of biotechnology include therapeutics, diagnostics, genetically modified crops for agriculture, processed food, bioremediation, waste treatment, and energy production.

Biotechnology Sector of India

  • About:
    • Biotechnology sector is recognized as one of the key drivers for contributing to India's USD 5 Trillion economy target by 2024.
    • Policy initiatives of the Government of India (GoI) such as the Make in India program are aimed to develop India as a world-class Biotechnology and Bio-manufacturing hub.
    • India is among the top-12 destinations for biotechnology in the world, with approximately 3% share in the global Biotechnology industry.
    • Indian Biotechnology industry's economy was valued at USD 70 billion in 2020 and is expected to grow to USD 150 billion by 2025.
  • Biotechnology Parks:
    • The Department of Biotechnology has established Biotechnology Parks/Incubators across the country to translate research into products and services by providing necessary infrastructure support.
    • These Biotechnology Parks offer facilities to Scientists, and Small and Medium sized Enterprises (SMEs) for technology incubation, technology demonstration and pilot plant studies for accelerated commercial development of Biotechnology.
  • Draft National Biotech Development Strategy 2020-24:
    • About:
      • It has called for more engagement with startups and to leverage the public-private partnership (PPP) model to take the industry to USD150 billion by 2025.
    • Aim:
      • To build and nurture a vibrant startup, entrepreneurial, and industrial base, connecting academia and industry.
    • Focus:
      • Strengthening and nurturing of a strong basic research and innovation driven ecosystem across research institutes and laboratories, both public and private sector, with complete engagement of startups, small industry, and large industry.

Source:PIB

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