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Calling for wider synergy among Government, Academia, Startups and Industry, Union Minister Jitendra Singh has said the world is looking up to India as an emerging Biomanufacturing Hub. He said biotechnology Startups and Institutional linkages with Industry will drive India’s Bioeconomy in the years to come.

Further highlighting growth of the sector, Singh said ‘our Bioeconomy witnessed double digit growth rate year-on-year in the last 9/10 years under the leadership of Prime Minister Narendra Modi. In 2014, India’s bioeconomy stood at just about $10 billion, this fiscal we are likely to touch $150 billion and we look forward to having $300 billion by 2030’.

Further, Union Minister said ‘India has made rapid strides in the last 8/9 years. We had just 55 (Biotech) Startups in 2014, now we have more than 6,000’ adding that today there are over 3,000 Agritech Startups and are very successful in areas like Aroma Mission and Purple Revolution.