BIRAC signs 9 Letters of Intent with leading international organisations
"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.
Dr Singh 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.
Singh said, "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 with nine leading international organisations in Biotechnology namely
- United States Pharmacopeial Convention (USP)
- UK Research and Innovation (UKRI), UK
- 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)
- IBioM (Indian Biotech MSME and Startup Foundation)
- 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 called for enhanced cooperation and collaboration to increase the market share and volume of India’s pharmaceutical sector.
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 Bio-tech manufacturing.
Dr Rajesh S Gokhale, Secretary, Department of Biotechnology, Chairman, BIRAC and DG-iBRIC highlighted the pivotal role of such an international conference. Dr N Kalaiselvi DG, CSIR called this the decade of Innovation and research; GS Krishnan President, Association of Biotech Led Enterprises; Dr Jitendra Kumar Managing Director, BIRAC were also present at the inaugural ceremony.
PIB
