Karnataka aims to become $50 billion bioeconomy by 2025

Karnataka aims to become a $50 billion bio technology market by 2015. The state government currently contributes one third of the country’s bio-economy and the value of the market stood at $22.6 billion in 2019-20.

The government released the first draft of Bioeconomy Report 2020 at the Bengaluru Tech Summit.

The target of $50 billion bioeconomy by 2025 is an attempt to outline the strategic roadmap to harness the transformative power, said E V Ramana Reddy, additional chief secretary, Dept. of Electronics, IT, BT and S&T.


Reddy said the state witnessed 17% growth in its bioeconomy in FY20 and if the industry continues to grow 14-15% the state can achieve nearly $42 billion and the state expects to see higher growth.

Karnataka is currently home to 60% of the country's biotech companies.

“Karnataka accounts for one third of the country’s $62 billion bioeconomy. In healthcare we have been focusing on non-communicable diseases but today focus on infectious disease is the need of the hour,” said Kiran Mazumdar Shaw, chairperson, Vision Group on Biotechnology, and executive chairperson, Biocon.

She added that the state needs to focus on creating a vaccine hub.