India’s Bioeconomy Likely to Reach USD 300 Billion in Coming Years: Dr. Jitendra Singh
New Delhi: India is witnessing rapid growth in its biotechnology and bio-innovation ecosystem. Union Minister for Science & Technology, Dr. Jitendra Singh, recently announced that India’s bioeconomy is projected to reach USD 300 billion in the coming years. This marks a massive leap from just USD 10 billion in 2014 to nearly USD 165–175 billion in 2024, and now aiming to touch USD 300 billion by 2030.
What is Bioeconomy?
The bioeconomy refers to economic activities that use biological resources, biotechnology, and bio-innovation to produce goods and services.
It includes:
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Biopharmaceuticals (vaccines, medicines, biologics)
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Bio-agriculture (bio-fertilizers, bio-seeds)
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Bio-industrial products (bioplastics, biofuels, green chemicals)
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Food and nutrition biotechnology
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Waste-to-bioenergy solutions
India is emerging as a global hub for affordable vaccines, biotech research, and bio-manufacturing.
Key Highlights of the Announcement
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India’s bioeconomy crossed USD 165+ billion in 2024, reflecting strong double-digit annual growth.
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Target set to reach USD 300 billion in coming years, supported by government policy, startups, and research institutions.
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BioE³ strategy launched:
➤ Biotechnology for Economy, Environment & Employment -
India now has 21 Biofoundry facilities to support startups and industry in biomanufacturing.
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Sector creating massive employment opportunities — particularly for youth in biotechnology, pharma, and research.
Why India is Growing Fast in Bioeconomy
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Strong Startup Ecosystem
India hosts more than 6,000+ biotech startups, a huge jump from just 50 in 2014. -
Government Support
Major initiatives under DBT (Department of Biotechnology), BIRAC and new policies promoting high-value manufacturing. -
Affordable & Scalable Biomanufacturing
India became the world’s largest vaccine manufacturer during COVID-19, proving its capability. -
Global Demand for Sustainable & Green Solutions
Bio-based manufacturing reduces carbon emissions and replaces hazardous chemical processes.
Impact on Economy & Jobs
| Sector | Growth Drivers |
|---|---|
| Biopharma & Vaccines | India continues to be the world’s vaccine supplier |
| Bio-Agriculture | Demand for organic fertilizers and seeds |
| Bio-Energy | Waste-to-energy and biofuel projects |
| Bio-Industrial | Bioplastics and sustainable materials |
The expansion of bioeconomy is expected to create:
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Millions of high-skill jobs
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Opportunities for rural bio-agri entrepreneurship
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More investment in R&D and innovation
India Aiming for Global Leadership
Dr. Jitendra Singh emphasized that biotechnology will dominate the world economy in the coming decade, and India’s focus on innovation, sustainability, and bio-manufacturing puts it in a strategic global position.
“India is entering a new era where biotechnology will not only fuel our economy but also shape environmental sustainability and job creation.”
— Dr. Jitendra Singh
Conclusion
With strong policy support, a booming startup culture, and a rapidly growing innovation ecosystem, India is on track to become one of the world’s biggest bioeconomy powers.
The USD 300 billion milestone is not just an economic target — it signals India’s shift toward a sustainable, science-driven future.