India Edges Closer to Achieving Full-Stack Tech Leadership: Union Minister Jitendra Singh Cites Progress

India Accelerates Towards Technological Supremacy

India is rapidly advancing towards achieving full-spectrum technological capability, spanning from gene to qubit, from ocean depths to outer space. This progress is being driven by a combination of policy reforms, strong institutional frameworks, and a rapidly expanding innovation ecosystem, according to Union Minister Jitendra Singh.

Speaking at the International Conference on 'Vision 2047: Prosperous and Great Bharat 2.0' held at IIT Roorkee, the minister highlighted India's impressive gains in various critical technology domains. The country has climbed into the top ranks globally in several key areas. Specifically, India's Global Innovation Index ranking has improved significantly, rising from 81 to 39.

India's commitment to science and innovation is reflected in its sustained prioritization of research and development expenditure. Over the past decade, this expenditure has more than doubled. The minister emphasized that a biology-led economy will be the primary driver of India's progress in the 21st century.

Read also: US Government's Stake in Intel Surges 300%, Valued at $36 Billion

The BioE3 Policy (Biotechnology for Economy, Environment and Employment), approved in 2024, is a key step towards bio-manufacturing-led growth. This policy is expected to propel India's bio-economy to new heights. The country's bio-economy has experienced impressive growth, expanding from USD 10 billion in 2014 to over USD 165 billion today, with an annual growth rate of nearly 18 per cent. The government has set a target of USD 300 billion by 2030.

India has made significant strides in recent years, achieving a series of major scientific advances. These include progress under Genome India, indigenous CAR-T cell therapy, development of mRNA vaccine platforms, India's first indigenously developed antibiotic, establishment of a national biobank, and space biotechnology experiments.

Looking ahead, India aims to emerge among the top three global bio-economies by 2047. This ambitious goal underscores the country's commitment to leveraging biotechnology to drive economic growth, environmental sustainability, and employment opportunities.

Read also: Intel's Earnings Drive Chip Stocks to Record Highs on Wall Street

Note: The annual growth rate is an approximate value and may not reflect the actual growth rate.