BioVoice eMag February 2023 | Page 19

US $ 300 billion biotech industry by 2030 : Time to move out of our comfort zone

For a successful scientific ecosystem to deliver , there are three important pillars — capacity , cutting edge technologies & collaboration , writes Dr Renu Swarup , Former Secretary , Department of Biotechnology

For more than four decades the country has focused its efforts on building a strong biotechnology foundation with competence and capacity for cutting edge research and affordable product development . With the establishment of a National Biotechnology Development Board in 1982 and a separate Department of Biotechnology , in the Ministry of Science & Technology by Govt of India in 1986 , a special impetus was given to this sunrise sector and concerted efforts were made to have a strong bioeconomy led sustainable growth . BIRAC , a separate organization under the Department of Biotechnology , set up in 2012 created an enabling ecosystem to nurture start ups , connect industry and academia and promote innovation for affordable and accessible product and technology development .

The last decade and especially the last two years of the pandemic have seen the biotechnology sector grow steadily . With the onset of the Pandemic in early 2020 , the world focused its attention on the Scientists and researchers for finding science based solutions to fight this war . The focus was on biotech to find affordable solutions for understanding and tackling the virus . From Genome sequencing to diagnostics to vaccines and antivirals , biotechnology has been the key sector which efficiently delivered new technologies and products to address the key challenges of COVID .

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