4th edition of the Global Bio-India 2024 concludes in New Delhi
Summit and Conference
4 min read
The 4th Global Bio-India 2024 event successfully concluded on 14 September 2024. The three-day event was held in New Delhi from 12 to 14 September 2024. It showcased India’s enormous potential in the biotech sector for research, development, and manufacturing to the world. The first Global Bio-India was held in 2021, and since then, it has been held annually.
Organiser of the 4th Global Bio-India 2024
The 4th Global Bio-India 2024 was organised by the Department of Biotechnology under the Ministry of Science & Technology, Government of India, and the Biotechnology Industry Research Assistance Council (BIRAC).
South Korea was the partner country at the 4th Global Bio-India 2024.
Who inaugurated the 4th Global Bio-India 2024?
The 4th edition of the Global Bio-India 2024 was inaugurated by the Union Minister for State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, Minister of State Prime Minister Office, Department of Atomic Energy and Department of Space, Dr Jitendra Singh on 12 September 2024.
Theme of the 4th Global Bio-India 2024
The theme of the 4th Global Bio-India 2024 was ‘Biotech Innovation’ and ‘Bio-manufacturing’.
The theme aims to promote India as a global hub for research, development, and manufacturing in the biotech sector.
What is Biotechnology and Bioeconmy?
Bioeconomy refers to using renewable biological resources to produce industrial goods, food, or energy. Biotechnology plays a major role in the development of the bioeconomy.
Biotechnology is the use of technology that uses biological systems, living organisms, or parts of living organisms to develop and produce different industrial goods(production of chemicals, enzymes. paper, textiles, and food), medicines, agricultural goods (development of genetically modified plants, biofuels).
Status of the Bioeconomy in India
The government of India has recently approved the BioE3 (Biotechnology for Economy, Environment and Employment) Policy, which aims to make India a global biotech powerhouse by promoting biomanufacturing and employment in the sector.
- According to the Biotechnology Industry Research Assistance Council (BIRAC), the Indian bioeconomy has grown from $10 billion in 2014 to $130 billion 2024.
- The government of India has set a target to achieve a $150 billion bioeconomy by 2025.
- Currently, 60 per cent of the global production of vaccines is done in India.
- India has the 2nd highest number of USFDA-approved manufacturing plants outside the USA.
- According to the recently published report of the Australian Strategic Pacific Institute ASP, India is among the top countries in 45 out of 64 technologies and holds second place in Biotech manufacturing.
