In the Past Decade, Biotech Startups in India Grew from 50 to Nearly 9,000: Jitendra Singh
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New Delhi, Dec 21 (NationPress) From a mere 50 biotech startups in 2014, the ecosystem in India has seen an astonishing rise to nearly 9,000 within the last decade, as stated by Union Minister Jitendra Singh.
During an event in the national capital, Singh credited this growth to the significant expansion of the bio-economy over the past 10 years — skyrocketing from $10 billion in 2014 to more than $130 billion in 2024. The bio-economy sector is projected to reach $300 billion by 2030.
“Given the ongoing challenges of pollution and climate change, this government prioritizes sustainability highly. This contrasts sharply with the past 10-15 years when India's concerns regarding climate issues were often dismissed, either as irrelevant or not fully understood,”
Singh emphasized that sustainability remains a top priority for the government in light of persistent threats from pollution and climate change.
He also mentioned India's commitment to achieving a net zero target by 2070, as outlined by Prime Minister Narendra Modi at COP-26 in 2021.
Singh pointed out that in recent years, the government has launched numerous initiatives aimed at promoting sustainability, including the Green Hydrogen mission, the mission for climate change, and the deep sea mission.
The newly introduced ‘BioE3 Policy’ signifies a crucial advancement towards sustainable development in response to climate change, dwindling non-renewable resources, and increasing waste generation.
“The emergence of biotech startups is essential for our future economy. These initiatives position India as a leader in the global bioplastics movement, demonstrating how biotechnology can foster a cleaner and more sustainable future,”
Singh remarked in October.
