India’s bioeconomy has experienced tremendous growth over the past 10 years, expanding 16 times from $10 billion in 2014 to a remarkable $165.7 billion in 2024, according to an official government report. This substantial rise underscores the country’s commitment to biotechnology as a driving force for future economic progress, Union Minister Dr. Jitendra Singh announced at the BIRAC Foundation Day event in New Delhi.
A Remarkable Growth Story
Dr. Singh noted that India has surpassed its earlier bioeconomy target of $150 billion by 2025, achieving this milestone ahead of schedule. The figures are part of the ‘IBER 2025’ report, which highlights the sector’s contribution of 4.25% to India’s overall Gross Domestic Product (GDP). The bioeconomy has recorded a Compound Annual Growth Rate (CAGR) of 17.9% over the past four years, reflecting India’s emerging status as a global biotech leader.
New Initiative for Startups: Launch of BioSaarthi
During the event, Dr. Singh unveiled BioSaarthi, a global mentorship program designed to guide and support biotech startups in India. The initiative is structured as a six-month mentorship program where startup founders will receive personalized guidance from seasoned biotech professionals.
This initiative is expected to strengthen India’s biotech ecosystem by fostering innovation, enhancing collaboration between academia and industry, and helping Indian startups succeed on the global stage. BioSaarthi will also involve international mentors, particularly Indian professionals living abroad, who will volunteer their time and expertise to give back to the biotech sector in India.
BioE3 Policy: Boosting Research, Innovation, and Entrepreneurship
Dr. Singh also highlighted the recently approved BIO-E3 Policy, which stands for Biotechnology for Economy, Employment, and Environment. This policy aims to accelerate innovation, encourage research and development, and promote entrepreneurship within the biotech sector.
Assam has already taken the lead by becoming the first state to implement the BioE3 framework, marking a significant step toward nationwide adoption.
Growth in Biotech Startups and R&D Investments
India’s biotech startup ecosystem has expanded dramatically, growing from just 50 startups a decade ago to more than 10,075 in 2024. This surge reflects the increasing opportunities in bio-manufacturing, bio-agriculture, bioenergy, and other biotech fields.
Additionally, India’s spending on research and development (R&D) has more than doubled in the past decade. The country’s Gross Expenditure on R&D (GERD) increased from ₹60,196 crore in 2013-14 to ₹1,27,381 crore in 2024. This boost in R&D investment is expected to further enhance India’s competitiveness in biotechnology and related fields.
Conclusion: A Path Toward Self-Reliance and Global Leadership
India’s bioeconomy growth aligns with the government’s larger vision of an Atmanirbhar Bharat (self-reliant India). By focusing on research, innovation, and sustainable development, India aims to become a global powerhouse in biotechnology while simultaneously creating jobs, improving the environment, and contributing to economic growth.
