India targets a $300 billion bioeconomy by 2030, driven by biotech innovation, startup growth, ethanol blending success, and the new BioE3 policy. Minister Jitendra Singh highlights wider public involvement and sustainable growth strategies.
The government is targeting a Rs 25 lakh crore ($300 billion) bioeconomy by 2030 as part of its mission to make India a global hub for biotechnology-led growth. Union Minister of Science & Technology, Dr. Jitendra Singh, on Monday, July 7, urged wider public involvement in India’s biotechnology mission, stating that every Indian is a stakeholder in the country’s growing bioeconomy.
India’s bioeconomy has seen a sharp rise—expanding from just $10 billion in 2014 to Rs 13.8 lakh crore ($165.7 billion) in 2024 (As per FY25 data).
Over the last four years, the sector has recorded a strong compound annual growth rate (CAGR) of 17.9 per cent. It now contributes 4.25 per cent to the country’s GDP, signalling its growing importance to the national economy.
Biotech Sector: 11,000 startups in a decade
The number of startups in the biotech sector has risen from 50 a decade ago to nearly 11,000 now. The minister highlighted that this expansion was enabled by strong policy support and institutional partnerships.
He emphasised that the sustainability of biotech startups will depend on early industry partnerships and financial backing. “It is easy to start a startup. What’s difficult is to keep it started,” he said.
The Biotechnology Industry Research Assistance Council (BIRAC) has played a key role in supporting startups. According to the release, since its launch in 2012, it has set up 95 bio-incubation centres and introduced schemes like the Biotechnology Ignition Grant (BIG), SEED, and LEAP funds.
These schemes have supported hundreds of startups working in areas like healthcare, AI-based diagnostics, and digital health solutions.
Why does bioeconomy matter?
The bioeconomy refers to the use of renewable biological resources to produce food, fuel, and other industrial products. In India’s case, the sector is being driven by innovation in areas like biomanufacturing, gene editing, bioenergy, and agricultural biotechnology.
National Biopharma Mission boosts vaccine leadership
The National Biopharma Mission (NBM), supported by a $250 million fund co-financed with the World Bank, is helping India scale its pharmaceutical and vaccine production. So far, the mission has backed 101 projects, assisted 30 MSMEs, and created over 1,000 jobs.
Agricultural biotech supports rural incomes
Biotechnology is also transforming Indian agriculture. New high-yielding and drought-resistant crop varieties like SAATVIK chickpeas and genome-edited rice are increasing farm productivity.
In addition, the Biotech-KISAN programme is directly helping farmers in over 115 aspirational districts. In West Bengal alone, more than 37,000 farmers—mostly women—have been trained in scientific farming practices.
States like Jharkhand, Chhattisgarh, and Madhya Pradesh have also seen a 40–100 per cent increase in farm incomes and production due to biotech interventions.
Ethanol blending cuts oil imports and emissions
India’s bioenergy sector has also made significant gains. Ethanol blending in petrol has risen from 1.53 per cent in 2014 to 15 per cent in 2024. On June 19, in a conversation with CNN, Oil Minister Hardeep Singh Puri confirmed that India has achieved its target of 20 per cent ethanol blending six years early.
This has helped reduce crude oil imports by 173 lakh metric tonnes and saved Rs 99,014 crore in foreign exchange. It has also led to lower carbon emissions and generated large economic benefits for farmers and distillers.
BioE3 policy boosting green growth
Dr. Singh also pointed to the recently launched BioE3 Policy in August 2024, which aims to align India’s bioeconomy with sustainability, equity, and economic growth.
The policy promotes regenerative biomanufacturing, bio-based products, and carbon emission reduction. It also focuses on creating jobs in smaller cities through biofoundry clusters and advanced biomanufacturing hubs—helping startups and MSMEs bring lab innovations to market.
While highlighting the steps taken to implement the BioE3 Policy, Dr. Rajesh S. Gokhale, Secretary of the Department of Biotechnology (DBT) and Chairman of BIRAC, said the policy backs pilot manufacturing, regional innovation programmes, and smoother research-to-market pathways.
He stressed the importance of stronger partnerships between academia, startups, and industry to scale homegrown biotech solutions.
Published – July 08, 2025
Source : https://www.financialexpress.com/
Disclaimer: This information has been collected through secondary research and ceruleconsulting.com is not responsible for any errors in the same