Commerce and Industry Minister Piyush Goyal announced Project Development Cell for Biotechnology yesterday. Mr. Goyal made this announcement in Global Bio-India 2021 conclave, a three-day event focusing on different aspects of biotechnology which has been organized by DBT-BIRAC. Mr. Goyal said that we need to ensure that start-ups should not be afraid of failures.
 
The Minister added that we should extend our support to the start-ups to implement their ideas at the ground level to become commercially viable. Mr. Goyal also released Indian Bio-economy Report by ABLE, and Biotech Investment Potential for Indian States Report by IFC. Secretary of Department of Biotechnology Dr. Renu Swarup said that it was heartening to see that there was a growth in the biotech sector with 850 start-ups in the last year alone despite all the challenges.