India Bioconomy - Global Innovation Hub

3:45 PM - 4:00 PM, Wednesday, June 5, 2019 ・ Theater 4
The IMF on April 9th, 2019 projected India's GDP growth rate at 7.3% and the Global GDP growth at 3.3% for FY 20. India is expected to grow at a blistering pace for an extended period. It is expected to stabilize at 7.75% in the medium term. India's Bioeconomy has been growing at a fairly high level for some years and is now estimated at 50 billion USD. If the Industry continues to grow at the current pace, it will breach the 100 Billion mark by 2025. The Government of India has taken several measures to reduce the bottlenecks in the areas of taxation, investment etc. that has improved the ease of doing business. Government support for start-ups has led to an increase in the number of new ventures in various domains. Over the past 5 years, revised and new policies in areas of clinical trials, biosimilars have led to increased business. A new policy on Stem Cells and Regenerative medicine is also on the anvil.
Senior Adviser