New Delhi: India’s ‘bio economy‘ has grown eight times in the last eight years and has reached USD 80 billion, from USD 10 billion, Prime Minister Narendra Modi said on Thursday, June 9, 2022, claiming that the country is set to join the elite group of top 10 countries in the global ecosystem of biotech.
He stated that the number of startups in the country has increased from a few hundred to over 70,000 in the last eight years and that his government has worked to improve the ease of doing business and promote an entrepreneurial culture.
Modi observed that these 70,000 startups are established in about 60 different industries.
Noting that exports from some sectors have hit a record, he said supporting and developing every sector is the country’s need and his government is exploring every means to give momentum to India’s development.
The biotech sector is very important in giving new momentum to the country’s development, he said.
Modi said the Biotech Startup Expo 2022 will strengthen the ‘Aatmanirbhar Bharat‘ movement in the sector.
The Biotech Startup Expo-2022 is a two-day affair, and it started today and will continue till tomorrow, June 10. The theme of the Expo is ‘Biotech Startup Innovations: Towards Aatma Nirbhar Bharat”.