Odisha Minister Seeks Investment In Biotech Sector At Bio-Asia Meet In Hyderabad

Bhubaneswar: Odisha’s Minister of Science and Technology Ashok Chandra Panda on Sunday invited investors and industry captains for development of biotech sector in the state.

Addressing the valedictory session of the international conference Bio-Asia in Hyderabad, Panda said biotechnology is a thrust sector in the state’s IPR-2022 and all eligible ventures would be given adequate government handholding with supports.

“Bharat Biotech through its Anchor Tenant Sappigen Biologix has invested more than Rs 500 crore for manufacturing various vaccines in Odisha Biotech Park at Andharua near Bhubaneswar. They have also committed to invest another Rs 700 crore for its expansion,” the minister said.

Panda said growing ecosystem for startups in the existing bio-incubators has already been marching in the equal pace with others in the country. “Odisha is devising an innovative strategy by using its core competencies and competitive advantages in institutional systems, human resources, rich natural bio-diversities and low-cost production manufacturing capabilities in comparison to other states,” he added.

The minister also said an international body Global Network of Entrepreneurs and Professionals for Odisha (GNEPO) has signed MoU to facilitate Global Odisha Entrepreneural Exchanges and provide a platform for bio-entrepreneurship development in Odisha with global outreach. The state government has created attractive incentive systems, in incentivisation schemes, tax holidays, capital investment subsidy for bio-entrepreneurs, he added.

Panda also interacted with Telangana’s Minister for IT and Industry KT Ramarao and discussed biotechnology education and research in the state. Odisha with its strong network of academics and research organisations, human and bio-resources is hand committed to build an ecosystem with substantial investment in capacity building that can contribute to the bio-economy of the state as well as the country, he said.