India advancing towards $300-billion bioeconomy milestone by 2030: Jitendra Singh

Union Minister of State (Independent Charge) for Science & Technology, Jitendra Singh, said on Thursday that India’s bioeconomy has grown from about $10 billion in 2014 to more than $195 billion in 2025, showcasing massive growth over the past decade. Last year alone, the sector recorded an annual growth rate of around 17-18%, rising from approximately $165 billion to $195 billion. The growth, he said, highlights India’s emergence as a major global biotechnology hub.

Lauding India’s economic growth over the past few decades, the minister said that India has its own rich legacy and has abided by its core values. “If one is succeeding despite any failures along the way, that in itself is praiseworthy. It is very much to be proud about,” he said.

Speaking at the 14th Foundation Day celebrations of the Biotechnology Industry Research Assistance Council (BIRAC) at the Civil Services Officers’ Institute in the capital, Singh highlighted BIRAC's role as a key enabler of India’s biotechnology innovation ecosystem.


The minister added that biotechnology is now central to India’s future growth story, driving advancements in healthcare, agriculture, climate solutions, and sustainable manufacturing. “India is steadily moving towards its target of becoming a $300-billion bioeconomy by 2030, supported by a strong base of scientists, entrepreneurs, and start-ups,” he said.

He highlighted BIRAC’s crucial role in connecting research with industry and enabling the transition of ideas from laboratories into market-ready solutions.

Singh also spoke about the BioE3 Policy, Biotechnology for Economy, Environment and Employment, as a major step towards strengthening bio-based industries and sustainable biomanufacturing. He said the policy will promote innovation in areas such as precision biotherapeutics, smart proteins, climate-resilient agriculture, bio-based chemicals, and carbon capture technologies. BIRAC is facilitating this transformation by building shared infrastructure such as bio foundries, Bio-AI hubs and advanced biomanufacturing platforms, he added.

Referring to financial support mechanisms, the minister spoke about the Research, Development, and Innovation (RDI) Fund with an outlay of Rs 1 lakh crore, under which BIRAC has been assigned a key role in supporting biotechnology ventures. This initiative, he said, will help channel long-term investment into projects ready for scale-up and technology translation, strengthening India’s deep-tech ecosystem.

The India Bioeconomy Report (IBER) 2026 and the BIRAC Impact Report were also released at the event. The reports highlight that India’s bioeconomy has reached $195.3 billion in 2025, contributing around 4.8% to the national GDP, with a strong CAGR of nearly 18%. The sector has more than doubled in size since 2020 and is supported by over 11,800 biotech start-ups across the country.

At the event, the minister emphasised the importance of nurturing young scientific talent, especially from Tier II and Tier III cities and said that initiatives supporting students, researchers, and women entrepreneurs are helping build a nationwide culture of innovation.