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India's Bio-Economy to Reach $300 Bln By 2030: Science & Tech Minister
India's Bio-Economy to Reach $300 Bln By 2030: Science & Tech Minister
Sputnik India
India's bioeconomy will reach $300Bln by 2030, union minister Singh said on Saturday while launching the Global Bio-India – 2023 website.
2023-11-04T17:12+0530
2023-11-04T17:12+0530
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India's bioeconomy will reach $300Bln by 2030, union minister Singh said on Saturday while launching the Global Bio-India – 2023 website.The bio-economy encompasses the sustainable utilization of renewable biological resources, whether they originate from land or sea.According to the minister, India is currently ranked as one of the top 12 biotechnology destinations worldwide. Furthermore, he said that India is set to become one of the top five global bio-manufacturing hubs by 2025.The minister said that the bioeconomy is going to be a hugely lucrative source of livelihood in the times to come.
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India's Bio-Economy to Reach $300 Bln By 2030: Science & Tech Minister
17:12 04.11.2023 (Updated: 18:02 10.11.2023) Deexa Khanduri
Sputnik correspondent
Federal Minister Dr Jitendra Singh said that India has the potential to become an important player in the bioeconomy, which will also contribute to India's economy.
India's bioeconomy will reach $300Bln by 2030, union minister Singh said on Saturday while launching the Global Bio-India – 2023 website.
"In 2014, India's bio-economy was about $10 Billion, today it is $80 Billion. In past 8-9 years it has gone up eight times and we look forward to having $300 Billion by 2030," the space and science minister said.
The bio-economy encompasses the sustainable utilization of renewable biological resources, whether they originate from land or sea.
According to the minister, India is currently ranked as one of the top 12 biotechnology destinations worldwide. Furthermore, he said that
India is set to become one of the top five global bio-manufacturing hubs by 2025.
"India possesses a tremendous abundance of bioresources, an underutilized asset waiting to be tapped into, and a competitive edge in Biotechnology, primarily attributed to the vast biodiversity and the unique bioresources found in the
Himalayas.Then there is the 7,500 kms long coastline and last year we launched the Samudrayaan which is going to dig the biodiversity beneath the seas,"
Singh said.
The minister said that the bioeconomy is going to be a hugely lucrative source of livelihood in the times to come.
