Global Bio India unveils 30 breakthrough startups, paving the way for the future of biotech, says Union Minister Dr. Jitendra Singh at the inaugural ceremony of Global Bio India 2024 in New Delhi.

Addressing the inaugural ceremony of the Global Bio India Conference, Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy and Department of Space, MoS Personnel, Public Grievances and Pensions congratulated DBT and BIRAC for enabling the phenomenal growth and said India's bio economy has experienced remarkable growth, skyrocketing from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030.

Dr. Jitendra Singh highlighted the ‘India Bio Economy Report 2024’ brought out by Department of Biotechnology and BIRAC that captures the phenomenal progress made by the Indian Biotech industry. He hailed the visionary leadership of Prime Minister Narendra Modi guiding is in this new era of biotechnology transformation.

Highlighting the importance of Global Bio-India, Dr. Jitendra Singh said, “GBI offers a unique business networking platform for varied participants, including Central and State Ministries, Startups, SMEs, Large industries, Bioclusters, Research institutes, Investors, Incubators, Regulators, Policy Makers, Business analysts, Legal, IP, CROs, Innovation missions from other countries, international bodies, Industry Associations.”

Tracing the journey, he lauded the DBT-BIRAC for successfully organising three editions of Global Bio-India.

Dr. Jitendra Singh called the Global Bio-India 2024  a much bigger event as compared to 2023 with participation from 30+ countries, 500+ exhibitors, 5,000+ delegates, 1,000+ startups, B2B, B2G, G2G meetings and much more.

Dr. Singh said “There are a billion reasons to invest in India, the reasons being India has 60% share of global vaccine production, it has the 2nd highest number of USFDA approved manufacturing plants outside the USA. Opportunities for investments are available in Bio-Pharma, Bio-Agri, Bio-Industrial, Bio-energy, Bio-Services and Med-Tech.”

Biotechnology Industry Research Assistance Council (BIRAC) signed a Letter of Intent (LoI) with nine leading international organisations in Biotechnology - United States Pharmacopeial Convention (USP); UK Research and Innovation (UKRI); DHR Holding India Pvt. Ltd. (Danaher); Mauritius Institute of Biotechnology Ltd (MIBL); La Trobe University; Blockchain for Impact (BFI); US-India Strategic Partnership Forum (USISPF); Indian Biotech MSME and Startup Foundation ((IBioM); and Bharat Startup and Innovation Society (BSIS) - Bharat Startup Festival.

The Indian Bio Economy Report 2024 was also launched at the Global Bio India 2024 along with BIRAC Compendium of Products and Technologies 2024. In addition to this the event also witnessed the launch of GBI Exhibitor Directory coupled with Insights into BIRAC Equity Fund and Amrit Grand Challenge JanCARE Innovations Report.

Dr. Kiran Mazumdar Shaw, Executive Chairperson, Biocon Limited called for enhanced cooperation and collaboration to increase market share and volume of India’s Pharmaceutical sector.

Biology will drive the economic growth in the future economy by leveraging innovation, investment in intellectual property, and sustainable growth, added Shaw.

Dr. Tina Sejersgard Fano Executive Vice President, Planetary Health BioSolutions, Novonesis thanked India for the Bio E3 policy and said, “We need solutions for the economy as well as the environment.”

Prof. Ajay Kumar Sood, Principal Scientific Adviser, Government of India quoted the ‘Australian Strategic Pacific Institute ASPI’ report and said India is among the top countries in 45 out of 64 technologies as per the report and in 2nd position in Biotech manufacturing.

Dr. Rajesh S. Gokhale Secretary, Department of Biotechnology, Chairman, BIRAC and DG-iBRIC highlighted the pivotal role of the international conference. Dr. N. Kalaiselvi DG, CSIR; G. S. Krishnan, President, Association of Biotech Led Enterprises; and Dr. Jitendra Kumar, Managing Director, BIRAC was also present at the inaugural ceremony.