Union Minister Dr Jitendra Singh highlighted that India’s bioeconomy has surged to over $195 billion in 2025 from $10 billion in 2014. Speaking at the 14th Foundation Day of the Biotechnology Industry Research Assistance Council (BIRAC), he noted a robust growth rate of 17-18% annually in the sector.
Biotechnology is becoming a crucial driver of India’s progress, contributing significantly to healthcare, agriculture, climate solutions, and sustainable manufacturing. Dr Singh expressed confidence in India reaching a $300 billion bioeconomy by 2030, buoyed by a growing community of scientists, startups, and entrepreneurs.
Underlining BIRAC’s pivotal role, he praised the organization for bridging the gap between research and industry, facilitating the transformation of innovations into market-ready products. Dr Singh also discussed the BioE3 Policy, focusing on fortifying bio-based industries and fostering sustainable biomanufacturing.
The government’s Research, Development and Innovation (RDI) Fund, with a budget of Rs 1 lakh crore, will be instrumental in supporting biotechnology ventures and scaling up innovations, as per the minister. The India Bioeconomy Report 2026 and the BIRAC Impact Report, unveiled during the event, indicated a more than twofold growth in the sector since 2020, now contributing around 4.8% to the country’s GDP.
The reports also highlighted the presence of over 11,800 biotech startups in India, showcasing the rapid expansion of the innovation ecosystem. Dr Singh stressed the importance of nurturing young talent, especially from smaller cities, and emphasized the necessity for enhanced collaboration among industry, academia, and policymakers to drive innovation and economic prosperity.
