ndia Eyes $300 Billion Bioeconomy by 2030 as Biotech Startups Cross 11,800

India’s bioeconomy has grown from just $10 billion in 2014 to more than $195 billion in 2025, marking one of the country’s most striking growth stories in science-led economic development. That was the key message delivered by Union Minister Dr Jitendra Singh at the 14th Foundation Day of BIRAC in New Delhi, where he said the sector is now moving steadily toward a $300 billion target by 2030.

The numbers tell the story of a sector that has moved from the margins to the mainstream. According to the India Bioeconomy Report (IBER) 2026, released during the event, India’s bioeconomy reached $195.3 billion in 2025, contributing around 4.8 percent of the national GDP. The sector also recorded a strong annual rise of 17–18 percent, growing from nearly $165 billion to $195 billion in just one year. Over the longer term, the industry has more than doubled in size since 2020, underlining the speed at which biotechnology is becoming central to India’s economic future.

Speaking at the BIRAC event in Chanakyapuri, Dr Jitendra Singh described biotechnology as a major pillar of India’s next phase of growth. He said the sector is now playing a critical role across healthcare, agriculture, climate solutions, and sustainable manufacturing, and is helping position India as a fast-growing global biotechnology hub. The minister also emphasized that India’s rise in biotech is being powered not only by policy but also by a widening network of scientists, entrepreneurs, startups, and innovation platforms.

A major factor behind this expansion is the growth of India’s startup ecosystem in biotechnology. The report noted that the country now has more than 11,800 biotech startups, a figure that reflects how rapidly the space has broadened beyond traditional research institutions. These startups are contributing to product innovation, job creation, affordable healthcare technologies, and industrial applications that are increasingly relevant to both domestic needs and global markets.

Dr Jitendra Singh also highlighted the government’s BioE3 Policy — short for Biotechnology for Economy, Environment and Employment — as an important step in shaping the next stage of this growth. The policy aims to push India toward sustainable biomanufacturing and support emerging areas such as precision biotherapeutics, smart proteins, climate-resilient agriculture, bio-based chemicals, and carbon capture technologies. In simple terms, the goal is to ensure that biotechnology becomes not just a research field, but a large-scale industrial force that also addresses environmental and employment concerns.

He said BIRAC, the Biotechnology Industry Research Assistance Council, is playing a key enabling role in this transformation by helping bridge the gap between laboratory research and market-ready products. Over the years, BIRAC has become one of the most important support institutions in India’s biotech ecosystem, offering funding, incubation, mentorship, and industry-academia collaboration. Its work has helped innovators convert scientific ideas into commercially viable solutions, especially in healthcare and sustainability.

The minister also referred to the Research, Development and Innovation (RDI) Fund, which carries an outlay of ₹1 lakh crore. Under this initiative, BIRAC has been assigned an important role in supporting biotech ventures that are ready for scale-up and technology translation. This is significant because one of the biggest hurdles in deep-tech sectors is often the transition from early innovation to large-scale industrial application. The RDI framework is expected to provide long-term support to companies and technologies that can move beyond proof of concept and create wider economic impact.

Another important theme at the event was the broadening social base of India’s innovation economy. Dr Jitendra Singh said that scientific talent from tier-2 and tier-3 cities, along with students, researchers, and women entrepreneurs, is increasingly becoming part of the biotechnology story. That matters because the growth of a knowledge economy becomes much more meaningful when it is geographically and socially distributed rather than confined to a handful of large urban centres.

The BIRAC Impact Report, also released during the event, highlighted the measurable results of this support ecosystem. It pointed to the commercialization of new products, the expansion of startups, industry-academia partnerships, and the development of affordable and scalable solutions in healthcare and sustainable technology. In effect, the report presented biotechnology not as an abstract future possibility, but as a sector already delivering visible outcomes in jobs, products, and public value.

India’s biotechnology rise is now clearly becoming one of the country’s most important innovation stories. A decade ago, the bioeconomy was relatively modest in scale. Today, at $195 billion, it is contributing nearly 5 percent of GDP, supported by 11,800-plus startups, public investment, policy backing, and a strong research base. With the government now aiming for a $300 billion bioeconomy by 2030, the sector is being positioned not only as a driver of industrial growth, but also as a strategic pillar of a more self-reliant, science-driven India.

Source: PIB