What is the News?
The 2nd edition of Global Bio-India is being organised on a digital platform.
About Global Bio India 2021:
- Organized by: It is organised by the Department of Biotechnology, Ministry of Science & Technology along with BIRAC in partnership with the Confederation of Indian Industry(CII), Association of Biotechnology Led Enterprises(ABLE) and Invest India.
- Purpose: To showcase the strength and opportunities of India’s biotechnology sector at national and global level.
- Inaugural Edition: The first edition of Global Bio-India was held in 2019.
- Theme for 2021: The theme is “Transforming lives” and the tagline is “Biosciences to Bioeconomy”.
India’s Biotechnology Sector:
- Biotechnology is an industry that focuses on novel drug development and clinical research aimed at treating diseases and medical conditions.
- India is among the first countries to set up a department of biotechnology under the Ministry of Science and Technology in 1986.
- India is among the top 12 destinations for biotechnology in the world. It accounts for approximately 3% share in the global Biotechnology industry.
- Valu of the Indian Biotechnology industry was at $62 bn in 2019. It will reach a $150 bn target by 2025.
About Biotechnology Industry Research Assistance Council(BIRAC)
- It is a not-for-profit Public Sector Enterprise set up by the Department of Biotechnology(DBT).
- It is an industry-academia interface. Likewise, it aims to strengthen and empower the emerging Biotech enterprise to undertake strategic research and innovation, addressing nationally relevant product development needs.
[Answered] Examine how Biotechnology sector can emerge as engine of economic growth and societal change?