How India is becoming a tech hub for the world

How India is becoming a tech hub for the world

September 21, 2021 Comments Off on How India is becoming a tech hub for the world By admin

New Delhi: Amid an intense scramble to attract top talent to the country, the capital has taken the first step towards becoming the next Silicon Valley, with a biotechnology job-creation program launching in the capital.

Indian firms are expected to be the fastest-growing sectors in India’s tech sector by 2020, according to a new study by McKinsey, which forecasts a surge in the industry’s share of total employment.

The McKinsey report said that by 2020-21, the biotechnology sector could generate over one billion jobs and the number of new jobs is expected to rise by 25 percent by 2020.

McKinsey also said India is the most highly-educated country in the world, with nearly half of its graduates achieving PhD degrees, which are typically associated with higher-paying jobs.

The growth in the biotech sector has already prompted the government to establish a National Biotechnology Technology Strategy and the Government of India to establish the National Biotech Innovation Fund, which will provide incentives for Indian companies to develop biotechnology applications.

The biotechnology industry is expected have a growth of 6.6 percent in 2020, while the IT industry could see an increase of 1.3 percent.

India is expected in 2020 to have the second-largest number of companies that create new jobs in the country behind China, which has more than 200,000 such companies, according the McKinsey study.

The Indian economy is currently on track to grow at 6.7 percent, according McKinsey.

However, the McKinseys projections show that by 2023, the country will be projected to have one-third of the world’s manufacturing capacity.

India has been the world leader in biotechology, as well as in medical and pharmaceutical industries, but there are concerns over the pace of progress.

The McKinseys study found that India is still not producing enough bioprocessors to meet demand.

The new biotechnology jobs initiative, launched by Prime Minister Narendra Modi’s government, aims to accelerate the biotechanical sector by adding about 200,00 new jobs, while also creating 1.8 million jobs in IT and other sectors, it said.

Last month, the government also announced a new strategy to create jobs for India’s new generation of workers in biotech, as it sought to address the challenges of an aging workforce.

India is also planning to build an additional 400,000 jobs in bioremediation and bioplastics by 2020 and to add another 20,000 positions in biomedicine and other health fields.

Earlier this month, India unveiled its latest version of the National BioBioTechnology Strategy, aimed at attracting top talent and creating jobs in Biotechnology, Bio-Technology and Biomedical industries.

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