GG News Bureau
New Delhi, 9th August. Union Minister Dr. Jitendra Singh heralded the bio-economy as a key driver of India’s future growth at the launch of the ‘Impact Report 2024’ on the National Biopharma Mission (NBM), marking its five-year milestone. The event, held at the Dr. Ambedkar International Centre, celebrated NBM’s successes and future prospects.
Dr. Singh emphasized that both bio-economy and space economy are poised to lead India’s growth narrative. He highlighted that the National Biopharma Mission has achieved significant milestones, including the launch of 18 successful products and the support of 200 grantees across vaccines, biotherapeutics, medical devices, and diagnostics.
The NBM, part of the Innovate in India (I3) initiative, aims to accelerate discovery and development in bio-pharmaceuticals. Funded with a total cost of $250 million, with 50% co-funding from the World Bank, the mission benefits nearly 150 organizations and 300 MSMEs.
Dr. Singh reported that India’s bio-economy has grown 13-fold over the past decade, from $10 billion in 2014 to over $130 billion in 2024, with projections reaching $300 billion by 2030. India’s rank in the Global Innovation Index has improved from 81st in 2015 to 40th out of 132 economies.
The mission has introduced several notable contributions, including India’s first MRI scanner, the ZyCoV-D DNA vaccine for COVID-19, and the first injectable non-insulin antihyperglycemic biosimilar for type 2 diabetes. It has established 21 shared infrastructure facilities for research and biomanufacturing, which were utilized for COVID vaccine trials.
Dr. Singh also praised the NBM’s role in strengthening intellectual property management through seven technology transfer offices, and its support for over 450 IP awareness campaigns. He emphasized the importance of early industry linkage and overcoming stereotypes for Startups to succeed.
He further highlighted the Genome India Flagship Programme, which aims to revolutionize future healthcare strategies globally.
Dr. Singh credited Prime Minister Narendra Modi’s vision for empowering the Department of Biotechnology and BIRAC to bolster the healthcare ecosystem. He assured continued support for the initiatives and affirmed India’s growing role in preventive healthcare through the bio-pharma sector.
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