Biotech sector to become worth $150 bn by 2025: MoS Jitendra Singh

New Delhi, July 20 (KNN) The Biotech sector will touch USD 150 billion by 2025 and will be the key to India’s future economy over the next 25 years, said Union Minister of State (Independent Charge) Science & Technology Dr Jitendra Singh on Wednesday. 

India’s Bioeconomy has reached over USD 80 billion in 2021 recording 14.1 per cent growth over USD 70.2 billion in 2020, he said releasing “India Bioeconomy Report 2022”.

The Minister said that Bioeconomy is likely to touch 150 billion dollars by 2025 and over 300 billion dollars by 2030.

He urged all the stakeholders of the Biotech sector, particularly Industry, Startup Ecosystem, Investors, Scientists, Scholars, Entrepreneurs and enablers like DBT, BIRAC to collectively work to achieve the ambitious target.

The Minister credited Prime Minister Narendra Modi’s prioritization to enable ecosystem which led to increase of the number of Biotech Startups in the country from 50 to over 5,300 in the last 10 years.

He hoped that Biotech Startups arising from a strong talent pool is expected to further increase 2 times, to 10,000 plus by 2025. (KNN Bureau)