Ahead of the 103rd Indian Science Congress in Mysuru next week, the Modi government on Wednesday unveiled the National Biotechnology Development Strategy 2015-2020, aimed at achieving $100 billion in turnover by 2025, a more than ten-fold rise from the current $7 billion.

Unveiling the strategy here on Wednesday, Science and Technology Minister Harsh Vardhan said the target was “not imaginary” as the Centre was confident that biotech had the potential to be the next boom sector.

While forging global and public-private partnerships are the key to achieving the target, the strategy aims at establishing India as a world-class manufacturing hub and plans to launch four major missions in healthcare, food and nutrition, clean energy and education.

“We are likely to get a substantial increase in budgetary allocation this year. For the first time, we have not seen any mid-term cuts this year,” Vijay Raghavan, Secretary, Department of Biotechnology, said at the event.

In line with ‘Make in India’ and the Indian Science Congress’ theme of Science and Technology for Indigenous Development in India , the biotech strategy focuses on R&D to make affordable products for the Indian and global markets.

Technology Development and Translation networks would be set up across India with global partners while five new clusters and 150 Technology Transfer Organisations would come up, said Renu Swarup, Senior Advisor, Department of Biotechnology, who played a key role in formulating the strategy.

A Life Sciences and Biotechnology Education Council would also be established to build skilled human capital.

On the long-pending Biotechnology Regulatory Authority Bill, Raghavan said though it was ready by the end of the UPA government’s tenure, it had gone through modifications after extensive stakeholder discussions and would, “hopefully”, see the light of the day soon.