ESTIC Conclave Highlights India's Science-Led Growth and Startup Support
New Delhi, October 28: Union Minister Jitendra Singh on Wednesday described the government's science-centric approach as a driver of local production, pointing to a nearly 19-fold rise in India's bioeconomy over the past 12 years.
Speaking to the media on the margins of the Emerging Science, Technology and Innovation Conclave (ESTIC), Singh said that years of focused investment in science have led to several devices being manufactured domestically rather than imported.
He pointed to the Ministry of Earth Sciences, which has developed the country's first indigenous research ship and launched it from the Kolkata port. Singh also said India has made progress in nuclear technology with the Fast Breeder Reactor. He added that these achievements are on display at ESTIC to inform the public and benefit stakeholders.
Singh argued that initiatives like ESTIC will quicken the journey toward a developed India. He further said that the work done in the last ten years under Prime Minister Narendra Modi has surpassed the cumulative work of the previous 70 years.
He cited key numbers. India's bioeconomy was 10 billion dollars in 2014 and has reached 195 billion dollars. The space economy, nearly nonexistent in 2014, now stands at 9 billion dollars.
These outcomes, according to Singh, are the result of bold decisions taken under Prime Minister Modi's leadership, including opening the nuclear and space sectors to private participation.
He also outlined the ESTIC 2026 programme. Launched last year, the conclave is entering its second phase, spanning three days. The event was inaugurated by Prime Minister Modi on Tuesday.
Singh explained that the ministry has transformed several smaller conferences into two major programmes, ESTIC being one of them. The conclave places particular emphasis on academia and brings in experts from India and abroad. Each branch of science has its own theme. The government hopes the platform will also help it understand what startups are doing and identify where market support can be provided.