Karnataka Deputy Chief Minister Dr. C N Ashwath Narayan launched the first State BioEconomy Report during the ongoing Bengaluru Tech Summit today. According to the report, Karnataka’s BioEconomy has grown by 14 to 17 percent in the previous two years, contributing 10.3 percent to the Gross State Domestic Product GSDP.
This contributed 2.3 percent of India’s 2.8 trillion GDP in the previous year. The report also says that Karnataka contributes more than one third to the national BioEconomy.
Releasing the report, Dr.Ashwath Naryan said that the Government has set a target to raise Karnataka’s BioEconomy share to 50 percent of the National BioEconomy revenue target by 2025. He pointed out that with the current growth trends, Karnataka’s BioEconomy is expected to touch 42 billion US dollars by 2025.
BioEconomy refers to all the biological resources to produce food, feed, bio-based products, energy and services.
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