Biotechnology Current Affairs - 2019
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India’s largest biotechnology conglomerate was held in New Delhi between 21 November, 2019 and 23 November, 2019. The event was organized by the Department of Bio Technology under Ministry of Science and Technology along with BIRAC (Biotechnology Industry Research Assistance Council) and CII.
The summit provided opportunity to exhibit the bio technological advances in the country to the international forum. The Minister of S&T, Earth Sciences and Health and Family Welfare released a report on “Private Investment in Biotechnology” at the summit
Highlights of the Report
The report highlighted the need for the government to find why there is inadequate private investment in the biotech research. It suggested the setting up of a single window system for approvals in the field of biotechnology.
The GoI has set a target to make the biotechnology sector as a 100 billion USD industry. The report wanted the government to encourage industry-academia linkages in order to achieve the target set
The Biotechnology sector is considered as the sunrise sector of an economy. In India, experts believe that it is the key driver of the country’s economy and will play a major role in achieving India’s 5 trillion USD target by 2025. This is because the sector has a potential of contributing 22% of 12 billion USD of Indian trade by 2025.
The summit acted as a platform to showcase the potential of India in the sector. The summit also helped to identify key challenges in the areas of Bio-agri, bio-pharma, bio-industrial, bio-services and bio-energy.
Tags: Biotechnology • BIRAC • Department of Biotechnology (DBT) • Foreign Investment • Foreign Trade
The All India Institute of Ayurveda under Ministry of AYUSH and FiZ-Frankfurter Innovationzentrum Biotechnologie Gmbh signed MoU in the event “German/Indian knowledge exchange regarding current developments in the health care sector”
- The goal of the collaboration is to research in the field of Genomics
- According to the agreement, a team of scientists from both the countries will develop evidence-based guidelines supported with latest technologies like machine learning and Artificial Intelligence.
- It also aims at integrating Ayurvedic principles and practices into modern medicines.
- Also, the countries will exchange their knowledge and experiences
- The experts believe that at deeper glance both the sciences can support each other
- The agreement forms the base line to complement traditional Ayurvedic Medicine with Biotechnology. It aids in creating evidences that will further help in contributing global health care
- Ayurveda being the time tested science focused upon wholeness of mind, soul and body, along with empirical medicine and precision medicine it can help ease the medicinal processes.