Union Minister of State (IC) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said here today that India's Bioeconomy recorded 12 times increase in last 10 years.

Speaking after inaugurating the ‘National Plant Computational Biology & Bioinformatics Facility’ at National Institute of Plant Genome research (NIPGR) on the Silver Jubilee celebrations of the Institute, the Minister said, India’s bioeconomy stood at just about $10 Billion, today it is $120 Billion. In just about ten years, it has gone up by 12 times and we look forward to having plus $300 Billion by 2030, he said.

Dr Singh also announced the release of ‘ADVIKA’, a new superior drought tolerant, climate smart chickpea variety, which is notified in the Gazette and available for widespread production. The Minister was happy to note that India produces 74% of the global chickpea output and it can be a good source of foreign exchange earnings.

The Minister called for greater integration of science institutes for optimum use of newer technologies. He also emphasised the industry linkage right from the beginning to sustain the R&D, Startups and livelihood opportunities.

Dr Singh said, institutes like NIPGR are monuments of excellence and they play a leading role in making India a healthy, nutritious and well-fed nation.

He said that India is poised to be among top 5 Global Bio-manufacturing hubs by 2025 as the sector is witnessing a boom. He said, in the last ten years the number of biotech startups has gone up from 50 in 2014 to 6,000 in 2023. Every day 3 Biotech Start-Ups are getting incorporated in India with aspirations to provide viable technological solutions.

In 2014, India’s bioeconomy stood at just about US$10 billion, today it is $120 billion. In just about ten years, it has gone up by 12 times and we look forward to having plus $300 Billion by 2030, he said.

The Minister said, biotechnology provides a milieu, an environment that is Clean, Green and more compatible with well-being. As time passes by, it also generates lucrative sources of livelihood, also the alternatives to the petrochemicals-based manufacturing, like bio-based products like food additives, bioengineering ties, animal feed products, he added.

Dr Singh said, Department of Biotechnology has been supporting R&D innovations in Advanced Biofuels and ‘Waste to Energy’ technologies.

He said, in the last 25 years, NIPGR has achieved many milestones in terms of new innovations, patents and plant varieties to support India’s food basket and in the next 25 years also, in the Amrit Kaal, it will play a vital role in the food security challenges of not only India, but the entire world.