PM Modi inaugurates Biotech Startup Expo

PM Modi said that the government has worked tirelessly for improving the potential and power of the Indian economy, and unlike during the previous governments when only certain sectors were focused on, his administration has paid equal attention to all sectors.

New Delhi: Prime Minister Narendra Modi said Thursday that India’s bio-economy has grown eight times in the last eight years and that the demand for biotechnology in the country is on the rise.

PM Modi made the remarks while inaugurating the Biotech Startup Expo 2022 at New Delhi’s Pragati Maidan organised by the Department of Biotechnology to celebrate 10 years of Biotechnology Industry Research Assistance Council (BIRAC), showcasing 75 successful startups supported by the agency. He also launched a Biotech products e-portal of 750 biotech products.

Speaking of India’s bio-economy, the Prime Minister said, “We have grown from $10 billion to $80 billion. India is not too far from reaching the league of top-10 countries in biotech’s global ecosystem.”

Pointing out the significance of the growth of the biotech sector in the development of the country, PM Modi said, “Trust in the skill and innovation of our IT professionals in the world is at new heights. This same trust and reputation, this decade, we are seeing happening in the biotech sector of India and for the bio professionals of India… There are five big reasons why India is being considered a land of opportunities in the field of the biotech— diverse population and diverse climatic zones, India’s talented human capital pool, increasing efforts for ease of doing business in India, the demand for bio-products is increasing continuously in India and India’s biotech sector and its track record of success.”