As part of the Vibrant Summit, a pre-summit in the field of biotechnology based on the theme of ‘The Path of Innovation and Wellness for Developed India’ will be held at Science City in Ahmedabad on Dec 11.

The objective of this event is to further this growth in line with the vision of ‘Vikasit Bharat 2047’.

Also to make Gujarat a hub of biotechnology to attract investment in this sector. The BioTech summit will also bring together approximately 350 stakeholders from the biotechnology sector.

India a Biotech aggressor

Talking about the event, Mona Khandhar, principal secretary, department of science and technology said, “Biotechnology is a key factor in contributing to the target of India’s $5 tn economy. The sector has grown eight times in the last eight years, from $10 bn to $80 bn, and the number of biotech startups has also increased from 50 to 5,300, with biopharmaceuticals being the largest segment, according to the data of Invest India.”

She added, “India contributes 62% to the bioeconomy, including 13% of bio-agriculture, bio-industry at 15%, and bio-IT and bioservices at more than 10% each.”

She concluded, “The bio services and industrial biotech segments, which accounted for a combined 22% of the industry in 2020, are expected to grow at a faster rate.”

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