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According to BIRAC India's 2022 report, India's bioeconomy is likely to reach how many billions by 2030?
USD 250 billion
USD 300 billion
USD 350 billion
USD 400 billion

Correct Answer : Option (B) - USD 300 billion

India's bioeconomy is likely to touch USD 150 billion by 2025 and over USD 300 billion by 2030, a report said on Tuesday(19th July 2022).
The India BioEconomy Report 2022, based on the data on biotech sector's contribution to the economy, has been brought out by the Biotechnology Industry Research Assistance Council (BIRAC).
The report said the country's bioeconomy has reached over USD 80 billion in 2021, registering a 14.1 per cent growth over USD 70.2 billion in 2020.
It said that India generated USD 219 million of bioeconomy daily, adding USD 80.12 billion in 2021.
On an average, at least three biotech startups were incorporated every day in 2021 (a total of 1,128 biotech startups set up in 2021) and the industry crossed USD 1 billion in research and development spending. "A trebling within a year from USD 320 million to USD 1.02 billion," it added..

Source : Business Standard

Published On : July 23, 2022
Category : Indian Economy