The bioeconomy is becoming increasingly important economically. The current global value of the bioeconomy is projected to be at 4 trillion USD, and some projections indicate that it may climb to 30 trillion USD, accounting for one-third of the world economic value. The world is on the verge of a new industrial revolution, powered by bio-innovation. Among emerging economies, India’s bioeconomy is a fascinating story of innovation, prosperity, and growing global significance. India’s bio-economy has grown from $10 billion in 2014 to $165.7 billion in 2024, according to Union Minister Dr. Jitendra Singh, who released the “India Bioeconomy Report 2025” (IBER 2025) during the BIRAC Foundation Day ceremony at the National Media Centre today. This exponential rise, he added, demonstrates the government’s commitment to biotechnology as a vital driver of India’s future economic success.
How is the world moving forward with bioeconomy?
In the evaluation by World Bioeconomy Forum, a biotechnology, bioresource, or bioecology vision approach to the bioeconomy was utilized. The United States, China, and India have been heavily focused on biotechnology, whereas the EU has been more inclined toward bioresource and bioecology visions. There are now indicators that approaches are being expanded to be more thorough. Biotechnology grows in relevance. As such, the subject is not new. What is new is that new tools such as digitalisation, automation, and artificial intelligence are accelerating the sector’s development activity, resulting in faster product launches and increased investor confidence.
According to the National Development and Reform Commission of China, the new plan meets the requirements of the 14th Five-Year Plan, which pledged to promote the integration and innovation of biotechnology and information technology, as well as accelerate the development of biomedicine, biological breeding, biomaterials, bioenergy, and other industries to broaden and strengthen the bioeconomy. According to the plan, the bioeconomy — a model that focuses on protecting and utilizing biological resources while deeply integrating medicine, healthcare, agriculture, forestry, energy, environmental protection, materials, and other sectors — will become a key driving force in promoting high-quality development by 2025.
By 2025, the proportion of bioeconomy added value in GDP will steadily climb, and China is expected to see a large increase in the number of bioeconomy firms with annual revenues of at least 10 billion yuan ($1.5 billion). By 2035, China hopes to be in the forefront of the global bioeconomy in terms of overall strength.
Why is India’s role crucial in the bioeconomy?
The bioeconomy has the potential to boost India’s economy to $10 trillion by 2030. China is already taking the required steps to improve its bio economy; but, given our core strength in this area, if the central government’s endeavors are combined with the efforts of state and local governments and society, we will undoubtedly dominate the global market.
How would the bioeconomy help India grow?
Economic Growth: The bioeconomy can help India’s economy grow by generating new industries, enterprises, and job opportunities in sectors such as agriculture and pharmaceuticals, as well as diversifying the country’s economic base.
Food Security: It can improve India’s food security by increasing agricultural productivity and soil health, generating nutritious, climate-resilient crops, and providing farmers with innovative biotechnologies and biological alternatives such as biofertilizers.
Healthcare: Advancements in bioeconomy can lead to the discovery of new pharmaceuticals, vaccinations, and better the accessibility and cost of healthcare, hence improving health outcomes. India’s first gene therapy clinical trial for Hemophilia A has been approved, furthering the treatment of genetic blood disorders.
Employment opportunities: The bioeconomy has the potential to generate employment creation in India, particularly in industries such as biopharmaceuticals and bioenergy, while also encouraging entrepreneurship in tier 2 and 3 cities through the development of bio-manufacturing hubs.
The bioeconomy is expected to provide 35 million employment by 2030.
Bio startups: India’s bioeconomy will play a significant part in creating a thriving startup environment. The number of biotech startups in India is predicted to increase from 8,531 in 2023 to 35,460 in 2030.
Exports: India is one of the world’s largest exporters of low-cost pharmaceuticals and vaccines; additional expansion in the biologics and biosimilars industries could improve India’s exports. For example, Indian manufacturers provided 25 per cent of the entire vaccine volume ordered by the World Health Organization (WHO).
Environmental benefits: Bioeconomy promotes circular economy by decreasing waste and maximizing resource efficiency through closed loop production and consumption. For example, agricultural waste can be transformed into biogas (anaerobic digestion), with the leftovers used as nutrient-rich fertilizer, decreasing waste and encouraging reuse.
Lowering environmental pollution: Bioeconomy products such as biofertilizers and biopesticides minimize hazardous chemicals in the environment while also improving ecosystem health.
How has India’s bioeconomy progressed during the last ten years under PM Modi?
“In just ten years, India’s bio-economy has grown from a modest $10 billion to $165.7 billion, far exceeding initial target of $150 billion by 2025,” which currently contributes 4.25 per cent of total GDP. The sector has grown at a CAGR of 17.9 per cent over the last four years, highlighting India’s potential as a global biotech powerhouse. The government has also announced BioSaarthi, a groundbreaking worldwide mentorship initiative focused at fostering biotech entrepreneurs. BioSaarthi, designed as a six-month cohort, will facilitate organized mentor-mentee exchanges and provide individualized support to young biotech entrepreneurs.
Government emphasised the recently established BIO-E3 Policy—Biotechnology for Economy, Employment, and Environment—which aims to boost research, innovation, and entrepreneurship in the industry. Under this program, initiatives such as Bio-AI Hubs, Bio Foundries, and Bio-Enabler Hubs will be established to integrate sophisticated technologies with biomanufacturing. Assam is the first state to embrace the BioE3 framework, a critical step toward pan-India implementation.
In a tremendous drive for innovation, India’s biotech startup ecosystem has expanded from 50 startups a decade ago to over 10,075 today, the tenfold rise, owing to public-private partnerships and a policy-driven approach to building an enabling environment.
Success Stories: such as the invention of India’s first indigenous antibiotic, Nafithromycin, which is helpful in treating respiratory infections, and a successful gene therapy study for hemophilia. He also stressed the importance of India’s whole genome sequencing initiative, which will encompass 10,074 individuals from 99 communities and is expected to transform precision medicine and healthcare in the country.
Another significant achievement is the Department of Biotechnology’s collaboration with the Indian Space Research Organisation (ISRO), which paves the path for space biology and space medicine research. “As India prepares for its first space station, biotechnology will play a crucial role in ensuring astronaut health and developing futuristic medical solutions. Over the last decade, India’s Gross Expenditure on Research and Development (GERD) has more than doubled, from Rs 60,196 crore in 2013-14 to Rs 1,27,381 crore in 2024. This increase in financing demonstrates the government’s commitment to advancing scientific research and innovation.
To make good contributions to the larger domains of the United Nations’ Sustainable Development Goals (SDGs), India intends to lead changes in agriculture and industry. This approach may create chances for Indian enterprises to continue their growth trajectory without putting undue strain on the current resource supply. Biotechnology’s industrial and agricultural applications minimize reliance on fossil fuels and energy, boosting resource sustainability and lowering greenhouse gas emissions. With considerable initiatives by the Government of India in capacity building, infrastructure development, and policy formulation and reform, India is progressing toward establishing a strong bioeconomic footprint in the globe.
