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Mahesh

20/07/22 22:19 PM IST

BIG-NER

In News 
  • Dr Jitendra Singh launches Special Biotech Ignition Grant call for North East Region (BIG-NER); announces financial support of Rs 50 Lakhs each to 25 start-ups and entrepreneurs from North East Region to develop biotech solutions.
Bioeconomy Report 
  • India’s Bioeconomy has reached over 80 billion US Dollars in 2021 recording 14.1% growth over $70.2 billion in 2020.
  • Noting the rapid growth in the sector, the Minister said, Bioeconomy is likely to touch 150 billion dollars by 2025 and over 300 billion dollars by 2030.
BIG-NER 
  • The Minister launched the special Biotech Ignition Grant call for North East Region (BIG-NER) and announced financial support of up to Rs 50 Lakhs each to 25 startups and entrepreneurs from North East Region to develop biotech solutions.
  • BIRAC/ DBT has established a strong network of 74 specialized bio-incubation centres in 21 states/ UTs including 7 bio-incubators in the north east region – an emerging cluster. 
  • India is among the top 3 in South Asia and top 12 destinations for biotechnology in the world, with approximately 3% share in the global Biotechnology industry.
  • Moreover, India has 2nd highest number of USFDA approved manufacturing plants outside the US.
Bioeconomy
  • BioPharma companies supported by Department of Biotechnology and BIRAC with risk-funding of about $71 Mn for development and manufacturing of Covid vaccines.
  • BioPharma Industry in 2021 tripled their R&D spending to nearly $1 billion from $360 million in 2020. Industry also augmented the manufacturing capacity by 3 times from 1300 Mn dose in 2020 to 4500 Mn doses in 2021.
  • This in turn, enabled administration of about 4 Mn doses of Covid vaccine per day in 2021.
  • The overall impact on Bioeconomy from Covid vaccines was registered as $8.7 billion as per the India Bioeconomy report 2022.

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