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The Karnataka government and the German state of Bavaria signed a Memorandum of Understanding (MoU) on Tuesday to collaborate in key areas, including Artificial Intelligence, quantum technology, biotechnology, Smart Cities, higher education, and sustainable agriculture, among others. The MoU was signed by Karnataka's Minister for Large and Medium Industries, M B Patil, and Dr Florian Herrmann, Head of the Bavarian State Chancellery. Karnataka's Minister for IT/BT, Priyank Kharge, was also present at the event. Speaking on the occasion, Minister Patil stated that the agreement will remain in effect for five years. As part of the collaboration, the two regions will work together in sectors such as Industry 4.0, space technology, medical technology, green tech, urban infrastructure, skill development, employment generation, entrepreneurship, and cybersecurity, he added. During the meeting, Herrmann was briefed in detail about Karnataka's robust industrial ecosystem and the various ..
India's biotechnology sector is witnessing remarkable growth, with the country's bioeconomy now valued at USD 150 billion but there is still significant untapped potential in innovation and product development, which could further elevate India's global standing in the sector, Dr Jitendra Kumar, Managing Director of the government's Biotechnology Industry Research Assistance Council (BIRAC), said. BIRAC is a not-for-profit public sector enterprise set up by the Department of Biotechnology (DBT) under the government that supports and promotes innovation, entrepreneurship, and research in the sector. In an interview with PTI, Kumar highlighted India's significant contributions to global healthcare, with 40 per cent of the world's generic medicines being supplied by Indian companies. "We have enormous potential and capability, but when it comes to the value of our bioeconomy, we are ranked 14th globally. This is because much of the value stems from patented, innovative products' -- an