NEW DELHI, March 20: Jitendra Singh on Thursday said India’s bioeconomy has expanded from about $10 billion in 2014 to over $195 billion in 2025, registering an annual growth of 17–18 per cent and emerging as a major global biotechnology hub.
Addressing the 14th Foundation Day of the Biotechnology Industry Research Assistance Council (BIRAC) in New Delhi, the minister said the country is on track to achieve a $300 billion bioeconomy by 2030.
He highlighted that biotechnology is becoming central to India’s growth, driving innovation in healthcare, agriculture, climate solutions and sustainable manufacturing. He credited BIRAC for playing a key role in bridging research and industry, enabling the translation of scientific ideas into market-ready solutions.
Referring to policy initiatives, Singh said the BioE3 Policy will promote sustainable biomanufacturing and innovation in areas such as precision biotherapeutics, smart proteins, climate-resilient agriculture, bio-based chemicals and carbon capture technologies.
He also pointed to the ₹1 lakh crore Research, Development and Innovation (RDI) Fund as a major step to support biotechnology ventures and strengthen India’s deep-tech ecosystem.
The minister noted that India’s bioeconomy now contributes nearly 5 per cent to GDP, citing findings from the India Bioeconomy Report (IBER) 2026 released at the event. The sector, supported by over 11,800 startups, has more than doubled in size since 2020.
Officials said BIRAC’s initiatives in funding, incubation and mentorship have facilitated industry-academia collaboration, leading to the development of affordable healthcare solutions, sustainable technologies and job creation.
Singh emphasised the need to nurture young scientific talent, particularly from smaller cities, and called for continued collaboration among researchers, industry and policymakers to drive innovation-led growth and support the vision of a self-reliant India.
