The Ministry of Science & Technology stated on 10 October 2026 that industry must accelerate the translation of scientific research into commercial ventures to achieve national objectives by 2047. Union Minister Dr. Jitendra Singh highlighted that India has achieved 1,000 km of quantum-secure communication against an eight-year target of 2,000 km. He also noted that the bioeconomy has grown to approximately US$196 billion, with a target of US$300 billion by 2030. The Minister called for deeper collaboration between the government, academia, and the private sector to build indigenous technologies.
Key points
- Bioeconomy target: US$300 billion by 2030
- Quantum communication: 1,000 km achieved toward a 2,000 km eight-year target
- Goal: Achieve strategic sovereignty and national objectives by 2047
- Call for industry to engage at the inception of research projects
When it applies
- 121st Annual Session of the PHD Chamber of Commerce and Industry (PHDCCI)
- target for India's bioeconomy to reach US$300 billion