India’s Bioeconomy Surges to $195 Billion, Aiming for $300 Billion by 2030
New Delhi, March 19 – India’s bioeconomy has witnessed remarkable growth, expanding to over $195 billion by 2025 from approximately $10 billion in 2014, Union Minister Dr Jitendra Singh stated on Thursday.Speaking at the 14th Foundation Day of the Biotechnology Industry Research Assistance Council (BIRAC), Dr Singh highlighted that the sector has recorded an annual growth rate of around 17-18 per cent in the past year alone.
Biotechnology: A Key Pillar of India’s Growth
Dr Singh noted that biotechnology is increasingly shaping India’s growth story, driving advancements in healthcare, agriculture, climate solutions, and sustainable manufacturing. He said the country is steadily progressing toward its $300 billion bioeconomy target by 2030, supported by a strong ecosystem of scientists, startups, and entrepreneurs.BIRAC’s Role in Translating Research to Market
The minister underscored the pivotal role of BIRAC in bridging the gap between research and industry, enabling innovations to reach market-ready solutions.He also highlighted policy measures such as the BioE3 Policy, designed to strengthen bio-based industries and promote sustainable biomanufacturing. The policy aims to foster innovation in biotherapeutics, climate-resilient agriculture, and bio-based chemicals.
Government Support Through RDI Fund
Dr Singh pointed to the government’s Research, Development and Innovation (RDI) Fund, with an allocation of Rs 1 lakh crore, where BIRAC is expected to play a key role in supporting biotechnology ventures and scaling innovations.Sector Growth and Startups
During the event, the India Bioeconomy Report 2026 and BIRAC Impact Report were released, revealing that India’s bioeconomy has more than doubled since 2020 and now contributes about 4.8 per cent to the nation’s GDP. The reports also noted that India hosts over 11,800 biotech startups, highlighting the rapid expansion of the country’s innovation ecosystem.Focus on Talent and Collaboration
Dr Singh emphasised the importance of nurturing young talent, especially from smaller cities, and called for enhanced collaboration between industry, academia, and policymakers to drive further innovation and economic growth.This growth trajectory positions India as a global leader in biotechnology, with strong momentum toward achieving its ambitious bioeconomy goals by 2030.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Last edited by a moderator: