India's bio-economy grew 8 times in last 8 years

While addressing the “International Conference on Emerging Trends in Biosciences and Chemical Technology”, Union Minister of state for Science and Technology mentioned that India’s bio-economy grew 8 times since 2014.

Details of the event:

• The conference is being organized by Shri Mata Vaishno Devi University, School of Biotechnology in collaboration with CSIR-IIIM Jammu and The Biotech Research Society of India.
• The discussion highlighted that biotech Start-ups in India have grown 100 times in the last 8 years from around 52 to over 5300. 
• A total of 1,128 biotech start-ups were set up in 2021 alone, signalling the rapid growth of the sector in India.
• The sector is creating over 25,000 high-skilled jobs.

India’s potential in the field of Biotechnology:

• Efforts in Past: In 1986, much before any other country in the world, India recognised the enormous potential of biotechnology and established a separate departmentcommitted to this branch of science.
• Current Economic Status: Currently, India accounts for approximately 3% of the global biotech industry.
  • The biotechnology sector in India has grown from $1.1 billion in 2003 to a mammoth $64 billion sector in 2019 and by 2024; it is expected to be a $100 billion industry.
• Growing Biotech Start-ups:India’s pioneering achievements in biotechnology is the primary reason why the sector employs the best of minds and contributes to the development of generic and affordable medicare.

Significance for India:

• In field of Medicine:
  • Biotechnology techniques are used in medicine for diagnosis and treating different diseases.
  • The field of Biotechnology, genetic engineering has introduced techniques like gene therapy, recombinant DNA technology and polymerase chain reaction.
  • Genetic modification in mosquitoes can solve the problems of epidemic diseases such as dengue and malaria
  • Artificial insemination is the artificial introduction of semen into the reproductive tract of a female animal.
  • Stem cell transplantation was first used in the treatment of blood disorders and it was a breakthrough.
• In Agriculture:
  • By altering genes, studying and cloning various crops in order to provide better quality products of foods ultimately improving our lives.
  • Hybrid Seeds, Artificial Seeds, Photosynthesis improver, Stress resistant crops and plants, Bio-fertilisers, Bio-pesticides are some of the potential applications.
  • Reducing the use of fertilizers, herbicides and pesticides.
  • As an improvement on conventional plant-breeding technologies.
• In Animal husbandry:
  • The application of biotechnology in this area, in increasing production efficiency through manipulation and control of physiological systems and improving the health and well-being of animals, assumes great significance.
• In Food Processing:
  • Biotechnology also has applications in the detection of mutagens (substances that cause genetic mutations) in individual food products.
  • GM crops which have been approved for use in food items in select countries include corn, maize, soya, tomato, potato and papaya.
  • Latest innovations in biotechnology that fortify major staples with micro nutrients like vitamin A, zinc and iron can be game changers for hunger problem in India.
• Environment:
  • Biotechnology can be used to tackle environmental issues like deforestation and air pollution.
  • Biosensors, which combine a biological component (such as an enzyme) with various electronic components to trigger a circuit when a particular type of chemical is detected.

Important Government Initiatives:

• Make in India, Skill India, Start-up Indiaprogrammes are aimed to develop India as a world-class biotechnology and bio-manufacturing hub.
• Bio manufacturing hub: The government’s aspirational goal of developing the country into a $100-billion bio manufacturing hub by 2024is certainly going to give a fillip to the biotechnology sector as well.
• Biotechnology Industry Research Assistance Council (BIRAC),established under the Department of Biotechnology in 2012, continues to play a crucial role in the development of the biotech sector in India. BIRAC brings innovators and funders on to a common table, enabling ideas to become a reality and facilitate technological advances that make human progress possible.