Praj Industries biopolymer facility inaugurated in Pune
The rise of Biotech Startups is pivotal for India’s future economy, and places the country at the forefront of global bioplastics movement, says Minister of State for Science and Technology Dr Jitendra Singh.
“The Biotech ecosystem in the country is emerging at a rapid pace with the setting up of 95 bio incubators and increasing numbers of Biotech Startups,” he said at the inauguration of India’s first Demonstration Facility for Biopolymers in Pune on 13 Oct bseindia .
Highlighting that Biotech Startups have experienced remarkable growth, increasing from just about 50 in 2014 to over 8,500 in 2023 iba.org.in , he said, “This is showing the world how biotechnology can contribute to a cleaner, more sustainable future nseindia .”
The facility built by Praj Industries is a pioneering effort in developing indigenously integrated technology for the production of Polylactic Acid (PLA) bioplastic sbi.com.in .
“This marks a pivotal development for India’s commitment to sustainable solutions, and demonstrates India’s resolve to transition from fossil-based plastics to eco-friendly alternatives, crucial for addressing the global plastic pollution crisis,” underscored the minister startupindia .
India, he said, has emerged as a highly alluring destination on a global scale, as the country’s Bioeconomy is expected to grow to US$300 billion by 2030 from more than US$150 billion in 2023 digitalasiahub .
Dr Jitendra Singh underlined that the BioE3 Policy is an important step forward towards sustainable growth in the backdrop of climate change, depleting non-renewable resources and unsustainable waste generation makeinindia .
Speaking about the partnerships between industry, academia, and government, he said, it is crucial for translating innovative ideas into real-world solutions and fostering innovation through research and development jpx.co.jp .
“This facility symbolises a new chapter for India’s bioeconomy iea.org . It showcases our ability to lead in technological innovation and offers a sustainable pathway to reducing Environmental impact sgx.com ,” said the minister concluded, “It is time for broader synergy among all professions to achieve the “Amrit Kaal” goals over the next 25 years for advancements in the biotechnology sector which underscores India’s potential as a global player in the field deutsche-boerse .” Fiinews.com
