PIB: India’s bioeconomy is on the rise. According to Union Minister Dr. Jitendra Singh, who oversees Science and Technology, the sector has grown impressively and shows strong promise. After recording over $150 billion this fiscal year, India is now targeting a $300 billion bioeconomy by 2030.
Growth That Speaks Volumes
Back in 2014, India’s bioeconomy was just around $10 billion.
Since then, there’s been phenomenal progress. By 2024, the value crossed $130 billion, driven by growth across biotechnology, bio-manufacturing, and innovation.
What’s Fueling the Momentum
A rise in biotech startups from about 50 in 2014 to nearly 11,000 by 2025 underscores the growing entrepreneurial energy.
India now ranks 12th globally in biotechnology and is the largest vaccine producer in the world.
The government-backed BioE3 Policy is seen as a game changer. It lays the groundwork for high-performance bio manufacturing, green growth, and leveraging policy and technology to scale up innovation across food, energy, health, and environmental sectors.
Why It Matters
A thriving bioeconomy means more jobs, cleaner technologies, and stronger economic resilience especially from biotechnology that taps into the country’s rich biodiversity, long coastline, and deep sea potential.
India is positioning itself as a global biotechnology leader leading not only in production, but also in research, startups, and green industrial solutions.
Quick Summary
| Indicator | Value |
|---|---|
| Bioeconomy in 2014 | $10 billion |
| Bioeconomy in 2024 | $130–150 billion |
| Target by 2030 | $300 billion |
| Eco-policy driving push | BioE3 sustainable bio manufacturing |
| Key enablers | Startups, BioE3 Policy, green growth, rich bioresources |
