India wants to increase its biotech sector from $70 billion to $150 billion in the next four years, and it can’t do it without women’s active participation, according to Jitendra Singh, Minister of State in the Prime Minister’s Office.
After introducing a book based on “Compendium of 75 Women Biotech Entrepreneurs” at the Biotech Begin Expo at Pragati Maidan here, he stated that India was transitioning away from women-specific to women-led projects in the biotech start-up industry.
According to Singh, the number of female businessman biotech companies has increased exponentially during the Modi administration’s eight years in office, and this might be appropriately described as women-led development instead of women empowerment alone.
Women scientists have carved out a niche for themselves after space, nuclear science, drones, and nanotechnology, according to the minister, who added that many of the major scientific initiatives, including most ambitious crewed mission Gaganyaan, which will launch in 2023, are being did lead by women scientists.
The great achievement of women inventors in the country, he said, was one of the main pillars of Prime Minister Narendra Modi’s “New India” agenda.
Because of Prime Minister Narendra Modi’s support and enabling environment since taking office in 2014, the amount of biotech begin in the country has surged from 50 to over 5,000 within last eight years, as according Singh. “By 2025, it is likely to surpass 10,000,” he continued.
Biotechnology, according to the minister, is the main enabling technology driving the bio-economy, which has been identified as a sunrise sector. He stated that India was rated 12th in the world for biotechnology, third in Asia-Pacific, and the world’s largest vaccine manufacturer.
The final step is to level the field by rehabilitating the image of Indian pharmaceuticals and strengthening the potential to seek global partnerships.
“Access to the supply chain for reusables and reagents in biologics and manufacturing is critical, and it’s critical that we indigenize many of these requirements to avoid supply chain disruptions,” said Kiran Mazumdar Shaw, Biocon’s Executive Chair and Founder.
“The future belongs to biotech, bioscience, and biopharma,” she continued, “and we need to invest right now.” We need to establish an atmosphere that allows us to scale up by providing the required risk capital. This would necessitate the use of specialised venture capital funds.”
“Indian vaccine manufacturers have made a significant contribution globally, as Indian vaccines are used to vaccinate two-thirds of the world’s children. The industry used to be more focused on children’s immunizations, but now it’s shifting to adult vaccines.
“We need clinical trial centres all around the country, as well as relationships with countries all over the world, particularly in Southeast Asia, Africa, and Latin America,” said Krishna Ella, Chairman and Managing Director of Bharat Biotech International Limited.
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