New Delhi, December 21 (IANS). According to Union Minister Jitendra Singh, there were only 50 biotech startups in India in 2014 which have grown to nearly 9,000 in the last decade.
At an event in the national capital, the Union Minister attributed this growth to the spectacular growth in the bio-economy over the last 10 years, from $10 billion in 2014 to over $130 billion by 2024. The bioeconomy industry is expected to reach $300 billion by 2030.
The Union Minister said, “With the threat of pollution, climate challenges etc., this government has prioritized sustainability. This is in stark contrast to the times of about 10-15 years ago, when India had to face issues like climate or green concerns.” It was not taken very seriously in the United States, because they felt that either India was different from it or perhaps we did not understand the seriousness of it.”
The Union minister said “sustainability” is a high priority for the government amid the continuing threat of “pollution and climate change challenges”.
He also highlighted India’s aim to achieve net zero target by 2070, as announced by Prime Minister Narendra Modi at COP-26 in 2021.
Union Minister Singh said that in the last few years, the government has taken many initiatives towards stability. This includes Green Hydrogen Mission, Mission for Climate Change and Deep Sea Mission.
The recently launched ‘BiOE3 Policy’ of the Government is also an important step towards sustainable development in the backdrop of climate change, depleting non-renewable resources and unsustainable waste generation.
The Union Minister said, “The rise of biotech startups is important for our future economy.
“These efforts place India at the forefront of the global bioplastics movement, showing the world how biotechnology can contribute to a cleaner and more sustainable future,” Union Minister Singh said in October.
–IANS
SKT/AS
