Karnataka’s bio-economy to reach $50 billion by 2025
The Hindu
Karnataka to push for investments in biopharma, medical devices
Karnataka Government plans to tap the Central Government’s Production-Linked Incentive (PLI) Scheme to aggressively push for investment in the bio-pharmaceuticals and medical devices sector, said C.N. Ashwath Narayan, Minister for Information Technology-Biotechnology, Higher Education, Science and Technology, on March 22.
Participating in the ‘Bio-economy 2025 and Beyond’ summit organised by ABLE (Association of Bio-economy-led Enterprises), he said the bio-economy of Karnataka, which is currently valued at $24.4 billion contributing 33% of the national share, is on course to achieve $50 billion in terms of value by 2025.
Bio-economy segments such as bio-industrial, comprising bio-renewables, bio-energy, bio-fuels, and green chemicals, are expected to be the next big segment that would drive future growth. said the Minister. The segment has the potential to increase by 4-fold in its contribution to the bio-economy of the State from around $2 billion to around $7 billion, he explained.
The State Government has plans to attract investment in bio-agriculture (agriculture and animal husbandry) and bio-industrial (enzymes, biofuels, biomass, and green chemicals) industries to grow its bio-economy. Research and development services, marine bio-tech and BioIT and informatics services would also be focus areas for the State over the next few years, he added.
Karnataka is the third-largest producer of bio-fuels among the States which have reached 9% blending of petrol in 2021, he said, adding that the State’s Bio-tech industry crossed $180 million in R&D spend. A total of 95 bio-tech start-ups were set up in Karnataka in 2021, averaging almost 8 start-ups every month, the Minister stated.
Karnataka has emerged as the preferred destination for bio-tech investments in India. At present, the State hosts about 60% of the bio-tech companies in India and employs about 54% of the country’s total bio-tech workforce, according to Mr. Narayan.
Also, the bio-technology industry in the State has been at the forefront of fighting the Covid-19 pandemic by developing and deploying a variety of anti-virals, diagnostic tests, and administering vaccines. For instance; the State provided 2.3 lakh doses of Covid-19 vaccines per day totaling 86.4 million doses in 2021, he added.
Former higher education minister C. N. Ashwath Narayana, who wanted to initiate a debate on the government’s move on closure of universities, and said closure of universities would lead to denial of opportunities for students to undertake higher studies.
Watch ‘Mayabazar’, ‘Aditya 369’, ‘Kshana Kshanam’ and other Telugu films at Red Lorry Film Festival in Hyderabad
Tamil Nadu budget 2025: Tamil Nadu government submits Chennai Metro Rail DPRs to Union government for equity contribution, plans for future projects.
Since the use of pesticides for whitefly control is not very effective, awareness among farmers is being created.
Discover the elusive nightjar and vibrant birding community in Ernakulam, Kerala, through unique birding experiences and conservation efforts.
Electricity, Prohibition, and Excise Minister V. Senthilbalaji said he would face the allegations from the Enforcement Directorate (ED) legally, adding that the agency’s complaint regarding irregularities in Tasmac was made with “ulterior motives” and without any evidence.
House Beneath a Jackfruit Tree in Kerala features interconnected spaces, jaali work
Madras High Court dismisses criminal revision petition of Papanasam MLA Jawahirullah in foreign funds receipt case.
Former CM B.S. Yediyurappa had challenged the first information report registered on March 14, 2024, on the alleged incident that occurred on February 2, 2024, the chargesheet filed by the Criminal Investigation Department (CID), and the February 28, 2025, order of taking cognisance of offences afresh by the trial court.
LunARC on board Firefly Aerospace’s Blue Ghost Mission 1 flies to the moon with 30,000 digital artworks
KPCC president criticizes LDF government in Kerala for inaction against drug menace, accusing complicity in narcotics trade.
Tamil Nadu Finance Minister Thangam Thennarasu on Friday (March 14, 2025) announced that the registration fee for all immovable assets, including houses, plots, and agricultural lands, valued up to ₹10 lakh, will be reduced by 1% when registered in the name of women.
Speeding truck crashes into level-crossing gate, gets hit by train in Maharashtra; no injuries, 6-hour service disruption.