India's Bioeconomy Surges to $165.7 Billion, Driven by Innovation & Policy Support

Union Minister Dr. Jitendra Singh said that in just 10 years, India's bioeconomy has expanded from a modest $10 billion to $165.7 billion, far surpassing our initial target of $150 billion by 2025.

India's bioeconomy has witnessed remarkable expansion, growing 16-fold from $10 billion in 2014 to an impressive $165.7 billion in 2024, according to the government. 

This surge highlights the country's strategic focus on biotechnology as a key driver of economic growth, said Union Minister Dr. Jitendra Singh at the BIRAC Foundation Day ceremony in the national capital.

"In just 10 years, India's bioeconomy has expanded from a modest $10 billion to $165.7 billion, far surpassing our initial target of $150 billion by 2025," Dr. Singh stated, citing the 'IBER 2025' report. 

The report further revealed that the sector now contributes 4.25% to the national GDP and has demonstrated a compound annual growth rate (CAGR) of 17.9% over the past four years, positioning India as a global biotech powerhouse.

BioSaarthi Initiative to Boost Startups

During the event, Dr. Singh also unveiled BioSaarthi, a global mentorship initiative designed to support biotech startups. 

This six-month structured program will connect emerging entrepreneurs with experienced mentors, offering personalized guidance to foster innovation and industry-academia collaboration. 

The initiative will also involve international experts, particularly from the Indian diaspora, who will contribute their expertise to strengthen India's biotech ecosystem.

Dr. Singh emphasized that BioSaarthi will play a crucial role in accelerating biotech startups, helping them achieve global recognition and impact. 

The mentorship program is expected to enhance industry linkages and improve research-to-market transitions for young biotech firms.

BIO-E3 Policy & Regional Expansion

The minister also highlighted the recently approved BIO-E3 Policy—Biotechnology for Economy, Employment, and Environment—which aims to accelerate research, innovation, and entrepreneurship in the sector. 

Assam has become the first state to adopt this framework, marking a major milestone in its nationwide implementation.

India's biotech startup ecosystem has experienced significant growth, increasing from just 50 startups a decade ago to over 10,075 today. 

The country's gross expenditure on research and development (GERD) has also more than doubled in the past decade, rising from INR 60,196 crore in 2013-14 to INR 1,27,381 crore in 2024.

With continued policy support, investment, and global collaborations, India's biotechnology sector is set to play an even more critical role in shaping the country's economic and scientific landscape.

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