Global Bio-India-2021 | 03 Mar 2021

Why in News

Recently, the Union Minister for Health & Family Welfare inaugurated the second edition of Global Bio-India-2021 in New Delhi through virtual mode.

• It showcases the strength and opportunities of India's biotechnology sector at national level and to the global community.
• The minister unveiled the “National Biotech Strategy” and also inaugurated the Virtual Exhibition of Global Bio-India at the occasion.

Key Points

• About:
  
  • It is a mega international congregation of Biotechnology, with stakeholders including international bodies, regulatory bodies, Central and State Ministries, SMEs, large industries, bioclusters, research institutes, investors, and the startup ecosystem.
• Aim:
  
  • It aims at facilitating the recognition of India as an emerging Innovation Hub and the bio-manufacturing hub globally.
    
    • India was ranked 48^th in the Global Innovation Index Report 2020.
• Objectives:
  
  • Bio- Partnering, Policy Discussions, CEO's plans for India and connecting Indian Biotech ecosystem with international ecosystem and creating platforms for new idea evaluation and investments.
  • Showcase and identify key biotechnological innovations, products, services, technologies from national and international companies, start-ups and research institutes.
  • Attracting major contract projects from international companies as well as major global venture funding into India.
    
    • According to the World Bank's Ease of Doing Business Report 2020, India is now ranked 1^st among South-Asian countries compared to 6^th rank in 2014.
• Organisers:
  
  • Co-organised by the Department of Biotechnology, Ministry of Science & Technology along with its Public Sector Undertaking Biotechnology Industry Research Assistance Council (BIRAC) in partnership with industry association Confederation of Indian Industry (CII), Association of Biotechnology Led Enterprises (ABLE) and Invest India.
    
    • ABLE is a not-for-profit pan-India forum that represents the Indian Biotechnology Sector.

Biotechnology Sector of India

• About:
  
  • Biotechnology sector is recognized as one of the key drivers for contributing to India's USD 5 Trillion economy target by 2024.
  • Policy initiatives of the Government of India (GoI) such as the Make in India program are aimed to develop India as a world-class Biotechnology and Bio-manufacturing hub.
  • India is among the top-12 destinations for biotechnology in the world, with approximately 3% share in the global Biotechnology industry.
  • Indian Biotechnology industry's economy was valued at USD 70 billion in 2020 and is expected to grow to USD 150 billion by 2025.
• Biotechnology Parks:
  
  • The Department of Biotechnology has established Biotechnology Parks/Incubators across the country to translate research into products and services by providing necessary infrastructure support.
  • These Biotechnology Parks offer facilities to Scientists, and Small and Medium sized Enterprises (SMEs) for technology incubation, technology demonstration and pilot plant studies for accelerated commercial development of Biotechnology.
• Draft National Biotech Development Strategy 2020-24:
  
  • About:
    
    • It has called for more engagement with startups and to leverage the public-private partnership (PPP) model to take the industry to USD150 billion by 2025.
  • Aim:
    
    • To build and nurture a vibrant startup, entrepreneurial, and industrial base, connecting academia and industry.
  • Focus:
    
    • Strengthening and nurturing of a strong basic research and innovation driven ecosystem across research institutes and laboratories, both public and private sector, with complete engagement of startups, small industry, and large industry.

Source:PIB