Pune: Biotechnology will dominate the worldwide economy in the close to future, with India being at the forefront firmly grounded in its business of $300 billion attained over the subsequent 5 to seven years, stated Jitendra Singh, minister of state (unbiased cost) of the Union ministry of science and expertise.Singh was talking on Friday at the inauguration of SYMRESEARCH 2.0, a convention on bioengineering for international well being hosted by the Symbiosis International University (SIU). He stated economists worldwide agree that the subsequent industrial revolution might be bio-driven.Biotechnology in India started as a $10 billion business in 2014 and stands at $130 billion at current, he stated, including: “We are confident it will reach $300 billion over the next five to seven years.”In the Nineteen Nineties, developments in world economy have been fuelled by data expertise, he stated. “There will now be a paradigm shift moving from traditional manufacturing to recycling processes, bio-driven technologies and genetic advancements. The transformation won’t be limited to life sciences, but will encompass areas such as agriculture and plant sciences,” he added.The convention on Friday was additionally attended by former director normal of CSIR RA Mashelkar, founder and president of Symbiosis and chancellor of Symbiosis International University (SIU) (deemed college) SB Mujumdar, SIU college of medical and well being sciences provost Dr Rajiv Yeravdekar, amongst others. The programme is on until Saturday at the Lavale campus of Symbiosis.Meanwhile, Singh stated, “The Union govt is proud to be one of the first to introduce the bio-e-tree policy — a comprehensive approach to leveraging biotechnology for the environment, economy and employment. We’ve already seen significant success stories emerging from the initiative.”Singh additionally launched a ebook, ‘More from Less for More,’ written by Mashelkar and Sushil Borde.