Govt. has simplified Patents regime for Start-ups, MSMEs : Goyal

Speed Post News Network

New Delhi : Union  Railways and Minister of Commerce & Industry Minister Piyus Goyal has said the Government has simplified the Patents regime for Start-ups, MSMEs among others to encourage innovation. He assured the Department of Industry will extend all support to new and emerging enterprises in Biotechnology sector. Goyal was addressing a gathering after giving away awards at the Global Bio-India Summit 2019 here on November 22, 2019.

Goyal said biotechnology is a key sector to fulfil India’s aspirations. “The Prime Minister’s Vision of New India is intertwined to DBT’s enterprising endeavours,” he said. “The aspirations of 1.3 billion Indians rests on our success to adopt technology,  innovations that lead to transformations,” he added.

He said India was the first country in the world to have a separate Department of Bio-Technology (DBT). “Outside the US, the largest number of Food & Drug Administration (FDA) approved drugs, 523 in numbers, come from India,” he said. “From the present nearly Rs 3.5 lakh crore worth  BT industry in India, the DBT aims to top Rs 7 lakh crore output by 2025 and analysts say this could even touch Rs.11/12 lakh crore,” he added, according to a PIB release.

Calling upon academia, industry and government to come together, Goyal said sustainability will be the fulcrum for innovation. He gave away Global Bio-India (GBI) awards and also released various reports besides launching a web portal for BT Start-ups. Member, NITI Aayog, Dr Vinod K Paul, and Secretary, DBT, Dr  Renu Swarup also addressed the gathering.