BioAsia Summit 2020 to be held in Hyderabad

The Government of Telangana is hosting Bio-Asia Summit 2020 in Hyderabad between February 17, 2020 and February 19, 2020. The main objective of the summit is to explore the capabilities of Life Science Companies and their investments.

Highlights

The summit will be attended by researchers, investors, conglomerates, start-ups and health care representatives. They will focus on the needs of the evolving Life Science industry.

The theme of the Summit is

Theme: Today for Tomorrow

Biotechnology in India

India is the third largest biotechnology destination in Asia Pacific. There are more than 523 USFDA (United States Food and Drug Administration) approved Indian owned plants spread all over the world. This is the second highest in the world.

Also, India is the largest supplier of BCG, DPT and measles vaccines.

In 2018, the value of biotechnology industry was 51 billion USD. It is currently growing at the rate of 14.7% every year.

Why is the summit important?

India is to become the most populous country in the world by 2030. The growing burden of diseases in the country is increasing rapidly. GoI is planning on 200 billion USD infrastructure in the next decade. The National Biopharma Mission will require strong workforce.

National Biopharma Mission

The National Biopharma mission was launched in 2017 by the Ministry of Science and Technology with the assistance of World Bank. The mission estimated 250 million USD of investment in the field.

Month: Current Affairs - February, 2020