New Delhi: Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh Monday said, Government will promote Industry-driven Start-Ups to create wealth and jobs.

Addressing the 37th Foundation day of Department of Biotechnology (DBT) as Chief Guest at National Institute of Immunology, NII, Delhi, Dr. Jitendra Singh called for equal stake with equal partnership and responsibility by Industry to sustain the Start-Ups boom.

The Minister said, Start-Ups will become sustainable, if Industry from the very beginning will identify the theme/subject/product and invest matching equity with the Government. The Minister assured that funds will not be a constraint under Prime Minister Narendra Modi’s Government to promote the “Innovation Eco-System” in the country.
Giving the example of Prime Minister Narendra Modi’s idea of an Atma Nirbhar Bharat, where India’s vaccine strategy brought together pharma, industry and academia in a partnership with an eye on meeting the current as well as possible future challenges, Dr Singh said, the idea behind initiatives like this is to have a sustainable partnership in the long run and provide a sustainable source of livelihood to India’s youth.

He added that the Government of India, led by Prime Minister Modi, is encouraging industrial outreach by extending all possible support.

The Minister also pointed out that last year he had launched Single National Portal "BioRRAP" for Biotech researchers and Start-Ups and also to cater to all those seeking regulatory approval for biological research & development activity in the country and thus offer a huge relief for "Ease of Science as well as Ease of Business”. He asserted that India is poised to become a Global Bio-manufacturing Hub and will figure among the top 5 countries of the world by 2025.
Dr Singh pitched for development of India’s own Molecule and said for Indian Problems, Indian Remedies must be devised. He said, Biotechnology is the technology of tomorrow as IT has already reaching its saturation point. The Minister emphasized that Biotech will be the key to Amrit Kaal Economy and also for making India a frontline nation in the world.

Dr. Singh reiterated that India's bio-economy has grown 8 times in the last 8 years from $10 billion in 2014 to over $80 billion in 2022.

Similarly, Biotech Startups have grown 100 times in the last 8 years from 52 odd startups in 2014 to 5300 plus in 2022. He said, 3 Biotech Startups were incorporated every day in 2021 and a total of 1,128 biotech startups were set up in 2021 alone, signaling the rapid growth of the sector in India.

In his address, Secretary, Department of Biotechnology (DBT), Dr. Rajesh Gokhale said, India must catch up fast with the Foundational Technologies of 21st Century to remain relevant in the game. He said, Government of India, through the Science, Technology and Innovation, among other things, aspires to position India among the world’s top five scientific powers and it is very much committed in supporting scientific research and innovations.

ALSO READ: 95 percent of students from NESC got placed overseas