In the biotech startups industry, India is transitioning from women-specific to women-led projects, and its growth cannot be achieved without the active participation of women, according to Jitendra Singh. Jitendra Singh, the Union Minister of State for Science and Technology, stated on Saturday that the Indian biotech sector is likely to increase from $70 billion to $150 billion in the next four years.
Singh stated at the Biotech Start-up Expo here that India is transitioning away from women-specific to women-led projects in the biotech startups sector, and that the sector’s growth cannot be achieved without women’s active participation. Women scientists have built a niche for themselves in space, nuclear science, drones, and nanotechnology, according to the minister, and many of the major scientific projects, including the most ambitious manned-mission ‘Gaganyaan,’ set to launch in 2023, are led by women scientists. He went on to say that a winning trifecta of market conditions, access to a variety of company options, and female entrepreneurs‘ willingness to plunge into the world of business ownership.
He also stated that the number of biotech companies in the country has expanded from 50 to over 5,000 in the previous eight years as a result of Prime Minister Narendra Modi’s support and enabling environment since taking office in 2014.Biotechnology, according to Singh, is the main enabling technology fueling the bio-economy, which is a recognised sunrise sector. He noted that India is rated 12th in the world in biotech, 3rd in Asia-Pacific, and the world’s largest vaccine manufacturer. He went on to say that a winning trifecta of market circumstances, access to numerous company options, and women entrepreneurs’ desire to leap into the realm of business ownership.
He also claimed that the number of biotech companies in India has grown from 50 to over 5,000 in the previous eight years as a result of Prime Minister Narendra Modi’s support and enabling environment since taking office in 2014. By the end of the year, it is expected to exceed 10,000. He went on to say that India is rated 12th in the world for biotechnology, 3rd in the Asia-Pacific area, and the world’s largest vaccine manufacturer. He believes that large and small businesses, as well as universities, must work together to establish and promote this ecosystem and culture of innovation. “To support this ecosystem, each partner adds their unique skills, resources, and determination,” he stated.
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