India's bioeconomy increases nearly 20-fold to $195 billion: Dr Jitendra Singh

New Delhi, March 19 (IANS) Union Minister Dr Jitendra Singh on Thursday said that India’s bioeconomy has expanded significantly to over $195 billion in 2025, from around $10 billion in 2014.

Addressing the 14th Foundation Day of the Biotechnology Industry Research Assistance Council (BIRAC) here, the minister said the sector has witnessed strong growth, registering an annual expansion of around 17-18 per cent in the past year alone.

He noted that biotechnology is emerging as a key pillar of India’s growth story, contributing to advancements in healthcare, agriculture, climate solutions, and sustainable manufacturing.

Dr Singh said India is steadily moving towards its target of a $300 billion bioeconomy by 2030, supported by a growing base of scientists, startups and entrepreneurs.

Highlighting the role of BIRAC, he said the organisation has been instrumental in bridging the gap between research and industry, helping translate innovations into market-ready solutions.

Referring to policy initiatives, the minister spoke about the BioE3 Policy aimed at strengthening bio-based industries and promoting sustainable biomanufacturing. He said the policy will support innovation in areas such as biotherapeutics, climate-resilient agriculture and bio-based chemicals.

Dr Singh also highlighted the government’s Research, Development and Innovation (RDI) Fund with an outlay of Rs 1 lakh crore, under which the BIRAC will play a key role in supporting biotechnology ventures and scaling up innovations.

During the event, the India Bioeconomy Report 2026 and the BIRAC Impact Report were released, which showed that the sector has more than doubled since 2020 and now contributes around 4.8 per cent to the country’s GDP.

The report also highlighted that India has over 11,800 biotech startups, reflecting the rapid growth of the innovation ecosystem, the government said.

The minister also emphasised the need to nurture young talent, particularly from smaller cities, and called for greater collaboration between industry, academia and policymakers to drive innovation and economic growth.

--IANS

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