India’s Bioeconomy Surges to $195 Billion, Set to Touch $300 Billion by 2030: Dr Jitendra Singh

India's bioeconomy has witnessed a remarkable expansion—growing nearly 20-fold from USD 10 billion in 2014 to over USD 195 billion in 2025—positioning the country as one of the fastest-emerging global biotechnology hubs, Union Minister Dr Jitendra Singh announced on Thursday.

Speaking at the 14th Foundation Day of the Biotechnology Industry Research Assistance Council (BIRAC) in New Delhi, the Minister highlighted that the sector recorded a robust 17–18% annual growth in the past year alone, underscoring its accelerating contribution to India's economic and innovation landscape.

Biotechnology Becomes Pillar of India's Growth Story

Dr Jitendra Singh described biotechnology as a "central driver" of India's future, powering breakthroughs across:

• Healthcare and affordable therapeutics

• Climate-resilient agriculture

• Sustainable manufacturing

• Environmental and carbon solutions

He noted that India is steadily advancing towards its ambitious target of a USD 300 billion bioeconomy by 2030, backed by a thriving ecosystem of scientists, startups, and industry players.

"India's bioeconomy is no longer an emerging sector—it is a defining pillar of our growth trajectory," he said.

BIRAC: Bridging Lab Research with Market Innovation

The Minister credited BIRAC as a key catalyst in translating scientific research into commercially viable products. Over the past decade, BIRAC has played a pivotal role in:

• Supporting biotech startups and entrepreneurs

• Facilitating industry-academia collaboration

• Providing incubation, funding, and mentorship

• Accelerating technology transfer from labs to market

The event saw participation from leading stakeholders, including Dr Rajesh S. Gokhale (DBT Secretary), Prof Ashok Jhunjhunwala (IIT Madras), and Dr Jitendra Kumar (BIRAC MD), alongside scientists, policymakers, and startup founders.

India Bioeconomy Report 2026: Key Highlights

Two major reports—India Bioeconomy Report (IBER) 2026 and the BIRAC Impact Report—were released at the event, offering a comprehensive snapshot of the sector's growth:

• Bioeconomy size: USD 195.3 billion (2025)

• GDP contribution: ~4.8%

• Growth rate: ~18% CAGR

• Biotech startups: 11,800+ nationwide

• Sector size: More than doubled since 2020

These figures underline India's rapid emergence as a global biotechnology powerhouse, with strong innovation-led expansion.

BioE3 Policy to Drive Next-Gen Biomanufacturing

Dr Jitendra Singh highlighted the BioE3 Policy (Biotechnology for Economy, Environment and Employment) as a transformative framework for scaling bio-based industries.

The policy focuses on high-impact domains such as:

• Precision biotherapeutics

• Smart proteins and alternative nutrition

• Climate-resilient agriculture

• Bio-based chemicals

• Carbon capture and sustainability technologies

To support this, BIRAC is developing advanced infrastructure, including:

• Bio-foundries for rapid prototyping

• Bio-AI hubs integrating artificial intelligence with biology

• Next-generation biomanufacturing platforms

₹1 Lakh Crore RDI Fund to Boost Deep-Tech Ecosystem

In a major financial push, the government has earmarked ₹1 lakh crore under the Research, Development and Innovation (RDI) Fund, with BIRAC playing a central role in deployment.

The fund aims to:

• Support late-stage and scale-up-ready biotech ventures

• Enable long-term capital flow into deep-tech innovation

• Strengthen India's global competitiveness in biotechnology

"This initiative will bridge the critical gap between innovation and commercialization," the Minister said.

Inclusive Innovation: Focus on Tier-2, Tier-3 Cities

Emphasising the need for broad-based growth, Dr Jitendra Singh called for nurturing scientific talent beyond metro cities.

He highlighted ongoing efforts to:

• Support students and young researchers

• Promote women entrepreneurs in biotech

• Expand innovation ecosystems in tier-2 and tier-3 regions

"These initiatives are building a nationwide culture of scientific entrepreneurship," he added.

Measurable Impact: From Innovation to Societal Change

The BIRAC Impact Report showcased tangible outcomes of government support:

• Development of affordable healthcare solutions

• Commercialisation of biotech products

• Job creation and startup expansion

• Strengthened industry-academia partnerships

The report underscores how targeted funding and policy support are translating into real-world impact across sectors.

Towards a $300 Billion Bioeconomy

Congratulating BIRAC on its 14th Foundation Day, Dr Jitendra Singh called for deeper collaboration between government, industry, and academia to scale innovation.

"With sustained efforts, India is well on track to achieve a $300 billion bioeconomy, contributing significantly to a self-reliant and developed nation," he said.