Is Biotechnology Indian economy’s next big thing?

Over the last two-to-three decades, the Indian economy’s biggest success story is its IT industries which gained stellar growth and brought billions of foreign money into the country. Like any other sector, the dividends will eventually reach their inflection point and therefore to ensure sustained growth of its economy India need to reach a similar level of competency in every other sector.

There is now wild uproar or anything when biotechnology is mentioned as a successor to the stellar growth of the IT industry. However, in the span of a decade beginning in 2007, the biotech industry has achieved significant growth form a mere to $2 billion industry to a whopping $11 billion platform. The predicted target is to reach $100 billion by the year 2025.

The overlooked fact is that biotechnology has been impacting Indian lives way before it had a significant say in the market. In the mid-1960’s it was the impactful dawn of biotechnology in India that drove the green revolution. This enhanced our farmlands and our cattle farms significantly, making farming in India profitable and impactful once again. Biotechnology also played a significant role in the white revolution, thus providing nutrition to the nation.

Another big sign of the impending outbreak of the biotechnology sector is the humongous growth of our pharmaceutical industry. It is a direct result of the process innovation that is happening in the biotechnology industry. Also, the growing need for fuel has been somewhat starting to get quenched by biomass fuel in the last few years.

These positive outcomes are a result of the wholesome effort of the Indian government that started and continued unrelentingly from the mid-1960s. Since 2012, India has backed around 316 biotechnology startups.

Many startups are offering young aspirants internships in biotechnology at a significantly low price. Many job-oriented courses are offered across India, aimed at producing efficient human resources as fast as possible. Microbiology courses in Kerala can be availed by anyone with a biotech degree or diploma.

Microbiology project in Kerala | Best biotech Companies