India’s Bio-Economy to Reach $1 Trillion by 2047, Says Dr Jitendra Singh

New Delhi, April 24, 2026: Union Minister Dr Jitendra Singh has said that the 21st century will belong to Bharat, with biotechnology and a biology-led economy expected to play a central role in India’s rise as a developed nation by 2047. Speaking virtually at the international conference “Vision 2047: Prosperous and Great Bharat 2.0” held at IIT Roorkee, the Minister said India’s bio-economy is projected to reach $1 trillion by 2047.

Dr Singh said India is moving towards full-spectrum technological leadership, from biotechnology and genomics to quantum technologies, ocean exploration and space science. He described this transformation as being supported by policy reforms, strong research institutions and a rapidly expanding innovation ecosystem.

The conference was jointly organised by IIT Roorkee and Swadeshi Shodh Sansthan, with participation from more than 100 institutions from India and abroad. IIT Roorkee Director Prof. K.K. Pant and Padma Shri awardee Shridhar Vembu were among those present at the event.

Referring to Prime Minister Narendra Modi’s vision of Viksit Bharat 2047, Dr Singh said India’s development model is rooted not only in economic growth, but also in ethical and civilisational values. He referred to the principle “Arthasya Moolam Dharmam”, underlining that India’s growth vision must combine prosperity with responsibility, sustainability and social purpose.

A major focus of the Minister’s address was the rise of India’s biotechnology sector. He said the government’s BioE3 Policy — Biotechnology for Economy, Environment and Employment, approved in 2024, is a defining step towards bio-manufacturing-led growth. According to him, India’s bio-economy has grown from $10 billion in 2014 to more than $165 billion today, expanding at nearly 18% annually, with a target of $300 billion by 2030. The number of biotech startups has also increased sharply from around 50 to more than 11,000.

Dr Singh also highlighted key research and innovation funding mechanisms, including the Anusandhan National Research Foundation, with a corpus of ₹50,000 crore, and the ₹1 lakh crore Research, Development and Innovation Fund, aimed at providing long-term, low-cost financing for deep-tech innovation.

Listing India’s recent scientific advances, the Minister referred to progress under Genome India, indigenous CAR-T cell therapy, development of mRNA vaccine platforms, India’s first indigenously developed antibiotic, the establishment of a National Biobank, and space biotechnology experiments being carried out in collaboration with ISRO. He also mentioned the expansion of nuclear medicine facilities for affordable cancer care and progress in deep-ocean exploration through missions such as Samudrayaan.

On emerging technologies, Dr Singh said the National Quantum Mission has achieved key milestones ahead of schedule. He also pointed out that India’s Global Innovation Index ranking has improved from 81 to 39, while national research and development expenditure has more than doubled over the past decade.

Looking ahead, the Minister said India has set clear milestones for 2030, 2035, 2040 and 2047, covering the expansion of the bio-economy, scaling up of biotech startups, operationalisation of the Bharatiya Antariksha Station, marine biotechnology, carbon-neutral technologies and deeper technological self-reliance. By 2047, he said, India aims to be among the world’s top three bio-economies.

Addressing students, researchers and innovators, Dr Singh called them the “Amrit Generation” and urged them to lead India’s next scientific transformation. He said institutions like IIT Roorkee must play a major role in bio-manufacturing, research, innovation and technology development, adding that India’s journey towards Viksit Bharat will be shaped by laboratories, startups and young scientific minds working together.