‘India’s vaccine market to reach Rs 252 billion valuation by 2025’
New Delhi: The Indian vaccine market, which has carved out a place for itself at the global level, is expected to reach a valuation of Rs 252 billion by 2025, Union Minister Jitendra Singh has said.
The minister, who is on an official visit to the United Kingdom, also called for extended collaboration between India and the UK in areas of biotech startups and vaccine development.
The world is increasingly realising India’s superlative capacities in preventive healthcare and the country is now in the process of developing several vaccines, Singh, the minister of state for science and technology, said during a tour of the London Science Museum.
He said recently, the first nasal Covid vaccine was successfully manufactured and added that a vaccine related to the Human Papillomavirus (HPV) has helped in the prevention of cervical cancer, according to an official statement issued on Sunday.
Singh underlined that the Indian vaccine market, which has carved out a place for itself at the global level, is expected to reach a valuation of Rs 252 billion by 2025, it said.
India is fast emerging as the world’s major bio-economy and over the last few years, it has grown by leaps and bounds when it comes to innovation and technology, he said and pointed out that India has developed four indigenous vaccines in just two years.
The Department of Biotechnology (DBT) in the Ministry of Science and Technology has through its “Mission COVID Suraksha” delivered four vaccines, augmented the manufacturing of Covaxin and created necessary infrastructure for smooth development of future vaccines “so that our country is pandemic ready”, he said.
During his visit to the 175-year-old London Science Museum, he underlined Prime Minister Narendra Modi’s initiative of setting up similar museums in India, the statement said. The idea of setting up these museums is to help people, particularly the youngsters, to realise their hidden potential and sometimes even discover their inherent aptitudes of which they themselves may not be aware of, he said.
