The Global Bio- India 2024 summit concluded on 14^th September 2024. This 4^th edition of Bio-India puts the spotlight on biomanufacturing, global partnerships and cutting-edge innovations. The event ran from 12-14^th September and saw participants from 30+ countries, 500+ exhibitors, 5000+ delegates, 1000+ startups, B2B, B2G, G2G meetings and many more.

Union Minister of State for Science and Technology, Dr. Jitendra Singh said India is becoming a global research powerhouse in biotechnology. Indian bio-economy has experienced significant growth, from $10 billion in 2014 to over $130 billion in 2024. The industry is supposed to grow to $300 billion by 2030.

The event witnessed the launch of ‘Indian Bio-Economy Report 2024’ brought out by the Department of Biotechnology (DBT) and Biotechnology Industry Research Assistance Council (BIRAC). The report emphasized that the bio-industrial segment which accounts for 48% of the Indian bio-economy and is valued at $72.6 billion is likely to grow at a rapid pace. This growth is attributed to the adoption of bio-based solutions across sectors such as biofuels, chemicals, bioplastics and enzymes in various industries. The second biggest segment with a 35.65% share was biopharmaceuticals, valued at appx. $53.8 billion and 8.24% share, $12.4 billion to bio-agriculture. The report also states that the Indian biotechnology and life science sector added 1776 startups in 2023, an increase from 1,390 in 2022.

Dr Singh also mentioned the recent approval of India’s first biotechnology policy- BioE3 (Biotechnology for Economy, Environment and Employment) policy. The BioE3 Policy will support this transformation by establishing cutting-edge biomanufacturing facilities, bio-foundry clusters, and Bio-AI hubs. The Bio-AI hubs will bridge the gap between research and commercial manufacturing.

BIRAC also signed a letter of intent with 9 leading international organizations in Biotechnology namely- United States Pharmacopeial Convention (USP), UK Research and Innovation (UKRI), 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 future of the biotechnology sector in India seemed very promising with a focus on innovation, and sustainability, with strong government support. Prof. V Ramgopal Rao, VC of BITS stressed the importance of organizations on the model BIRAC to push other emerging technologies such as nano and quantum. Prof. Ajay Kumar Sood, Principal Scientific Advisor Govt. of India quoted the report by ‘Australian Strategic Pacific Institute (ASPI)’ which put India among the top countries among 45 out of 64 technologies and 2^nd position in biomanufacturing.