India’s bioeconomy has shown tremendous growth in recent times, with an increase of almost 20 times from US$ 10 billion (Rs. 92,420 crore) in 2014 to US$ 195 billion (Rs. 18.02 lakh crore) in 2025, as stated by Union Minister of State (Independent Charge) for Science and Technology, Dr. Jitendra Singh. The bioeconomy has shown an impressive growth rate of 17-18 percent annually, which reflects the significant contribution made by this sector to India’s development in recent times. The rapid growth in India’s bioeconomy has been attributed to India’s emergence as one of the world’s important biotechnology centers, driven by advancements in biopharma, bio-agriculture, bio-industrial, and bio-services segments.The growth of the bioeconomy has been fuelled by sustained policy support, the development of research infrastructure, and the growth of the startup ecosystem, where there are thousands of biotech startups driving the growth of the bioeconomy. The BioE3 Policy, which aims at supporting biotechnology for the economy, environment, and employment, has played a vital role in the growth of high-performance biomanufacturing, as well as the development of indigenous industry. It has also made vital contributions towards the growth of the bioeconomy in areas such as healthcare, sustainable agriculture, the environment, industrial biotechnology, and more, thus becoming a vital pillar of India’s growth trajectory. India has set a target of building a Rs. 24.9 lakh crore (US$ 300 billion) bioeconomy by 2030, thus indicating the potential of the bioeconomy.Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.https://www.ibef.org/news/india-s-bioeconomy-surges-from-us-10-billion-to-us-195-billion-in-a-decade-registers-17-18-annual-growth-dr-jitendra-singh (ICE MUMBAI)

Fonte notizia: IBEF