India Reinforces its Bioeconomy Goal of $300 Billion by 2030

What defines Bioeconomy?

The bioeconomy involves utilizing renewable biological resources to generate food, energy, and industrial products, thereby promoting sustainability and economic development.

Advancements such as gene editing and bioprinting are propelling development, while cross-sector integration enhances enduring influence.

Integrating biotechnology with digital technologies and circular economy concepts, the bioeconomy provides sustainable answers to ecological issues and enhances general societal health.

India's Bioeconomy

India ranks as one of the Top 12 global destinations for biotechnology and is the 3rd largest biotechnology hub in the Asia Pacific region.

India’s bioeconomy has expanded from $10 billion in 2014 to a remarkable $165.7 billion in 2024, marking a sixteen-fold increase.

Accounting for 4.25% of the national GDP, the sector has shown a strong compound annual growth rate (CAGR) of 17.9% during the last four years.

India's Biotechnology industry is divided into Biopharmaceuticals, Bio agriculture, Bio IT, and Bio Services.

Future Objectives: Aim to reach a $300 billion bioeconomy by 2030.

India aims to take a global leadership role in bio-pharma, encompassing vaccines, diagnostics, and therapeutics.

Government Programs and Major Initiatives

BioE3 Policy (Biotechnology for Economy, Environment, and Employment): Approved by the Union Cabinet in 2024, it seeks to establish India as a leading global biotech hub by promoting advanced biomanufacturing. Main highlights of the policy consist of:

Support for R&D and entrepreneurship guided by innovation.

Creation of Biomanufacturing & Bio-AI centers and Biofoundry;

Concentrate on regenerative bioeconomy frameworks for sustainable development;

Growth of India's skilled labor force;

Conformance with the ‘Net Zero’ carbon economy and ‘Lifestyle for Environment’ (LiFE) programs.

National Biopharma Mission: This initiative, sanctioned by the government, is spearheaded by the Department of Biotechnology (DBT) and executed by BIRAC.

Objective: To enhance India’s competence in biopharmaceuticals, vaccines, biosimilars, medical devices, and diagnostics by promoting partnerships between industry and research institutions.

Bio-agriculture: The field of agricultural biotechnology in India is progressing swiftly with breakthroughs in genomics, transgenics, and gene editing facilitated by the Department of Biotechnology’s Agriculture Biotechnology initiative.

Climate-Smart Crops: A drought-resistant, high-yielding chickpea variety named SAATVIK (NC 9) has received approval for farming.

Genome-Edited Rice: Mutations that cause loss-of-function in yield-restricting genes have resulted in enhanced rice varieties such as DEP1-edited MTU-1010, exhibiting greater yields.

Genotyping Arrays: India's initial 90K SNP arrays—IndRA for rice and IndCA for chickpea—facilitate DNA profiling and variety recognition.

Amaranth Resources: A genomic database, NIRS methods, and a 64K SNP chip support nutritional assessment and creation of anti-obesity amaranth strains.

Biocontrol: A nano-formulation derived from Myrothecium verrucaria provides environmentally safe management of powdery mildew in tomatoes and grapes.

Kisan-Kavach: A protective suit against pesticides improves farmer safety from harmful exposure.

Biotech-KISAN (Biotech-Krishi Innovation Science Application Network): Biotech-KISAN is a program that fosters collaboration between scientists and farmers to enhance farming by utilizing innovative agricultural techniques and scientific approaches.

It adopts a hub-and-spoke framework and operates in 115 Aspirational Districts throughout India.

Bioenergy: Bioenergy is a type of renewable energy sourced from recently living organic materials called biomass, which can be utilized to generate transportation fuels, heat, electricity, and various products.

Ethanol blending has increased notably—from 1.53% in 2014 to 15% in 2024, with a goal of achieving 20% blending by 2025.

This change has decreased crude oil imports by 173 lakh metric tons and also resulted in savings of Rs. 99,014 crores in foreign reserves and reduced 519 lakh metric tons of CO₂ emissions.

Enhancing Biotech Innovation via BIRAC Programs: The Biotechnology Industry Research Assistance Council (BIRAC), created by the Department of Biotechnology in 2012, significantly contributes to the growth of India’s biotech startup landscape.

BIRAC aids startups through funding, infrastructure, and mentorship with 95 bio-incubation centers established across the country.

The Way Ahead

India's integrated approach to innovation, sustainability, and inclusive development is setting a global standard, and the country's bioeconomy is at a turning point.

The country is well on its way to redefining its industrial and environmental landscape thanks to strong policy frameworks, state-of-the-art research, and a strong emphasis on cross-sector collaboration.

In addition to enhancing national resilience, the convergence of bio-manufacturing, bio-agriculture, and bio-energy demonstrates India's strategic intention to take the lead in the developing global bioeconomy.