The first ever Global Bio-India Summit was held in New Delhi from November 21-23,2019. The summit was one of the largest biotechnology stakeholders’ conglomerates. The summit was inaugurated by Minister for Science and Technology Dr. Harsh Vardhan and Petroleum Minister Dharmendra Pradhan in presence of other officials.
Report on Private investment in biotechnology:
- Dr.Harsh Vardhan released a report on private investment in biotechnology from a global perspective. The report was prepared by DBT with the support of Institute for Competitiveness, which is a part of the global network of the Institute for Strategy and Competitiveness at Harvard Business School, Massachusetts, United States(US).
- Aim: The report aims to provide the stakeholders of the biotech sector with a roadmap to make it a $100 billion industry.
- Other reports: A report on the scope for India to emerge as a global hub for manufacturing of biologics, innovating internationally competitive novel affordable vaccines, and another report on Indian bio-economy was also released.
Key Points:
i.Organisers: The summit was organised by the Department of Biotechnology (DBT), Ministry of Science & Technology, and its Public Sector Undertaking(PSU), Biotechnology Industry Research Assistance Council (BIRAC).
ii.The summit’s associate partners were Confederation of Indian Industry (CII), Association ofBiotechnology Led Enterprises (ABLE) and Invest India.
iii.Participants: 3000 delegates from around 25 countries and over 15 states of India participated in the event. The summit saw participation from more than 200 exhibitors, 275 start-ups and more than 100 bio-technology incubators.
