India’s bio-economy has experienced an extraordinary surge over the past decade. This surged from $10 billion in 2014 to an impressive $165.7 billion in 2024. Announcing these figures, Union Minister Dr. Jitendra Singh released the “India Bioeconomy Report 2025” (IBER 2025) at the BIRAC Foundation Day ceremony at the National Media Centre today.
This milestone was announced at the BIRAC Foundation Day ceremony held at the National Media Centre.
Bio-Economy Growth Surpasses Expectations
Dr. Jitendra Singh highlighted that India’s bio-economy has expanded 16-fold in just 10 years. This exceeded the government’s original target of $150 billion by 2025. “In just a decade, India’s bio-economy has grown from a modest $10 billion to $165.7 billion,” he added.
“Continuing its thrust on fostering India’s economy by exploring hitherto under-explored Biotechnology sector, Modi Govt 3.0 adopted #BIOE3 Policy ie Biotechnology for Economy, Employment, Environment—which aims to accelerate research, innovation and entrepreneurship in this… pic.twitter.com/Zu06MvHmoC
— Dr Jitendra Singh (@DrJitendraSingh) March 21, 2025
The report revealed that biotechnology now contributes 4.25% to India’s GDP, reflecting the sector’s increasing significance in the nation’s economic landscape.
With a compound annual growth rate (CAGR) of 17.9% over the past four years, India is emerging as a dominant player in the global biotechnology arena.
Launch Of BioSaarthi: A Global Mentorship Initiative For Biotech Startups
In a bid to further support biotech innovation, Dr. Singh also launched BioSaarthi, a global mentorship initiative aimed at nurturing biotech startups.
The program will run as a structured six-month cohort. It will be fostering mentor-mentee engagements and offering personalized guidance to emerging entrepreneurs in the biotech sector.
“BioSaarthi will play a crucial role in empowering biotech startups with the right mentorship and resources to scale their innovations,” Dr. Singh said.
The initiative is designed to help startups navigate challenges and capitalize on growth opportunities in the rapidly evolving biotech industry.
Government’s Focus On Research And Innovation
Dr. Singh emphasized the government’s unwavering commitment to advancing research and development (R&D) in the country.
He pointed out that India’s Gross Expenditure on Research and Development (GERD) has more than doubled in the past decade. It has risen from ₹60,196 crore in 2013-14 to ₹1,27,381 crore in 2024.
This significant increase in R&D spending demonstrates the government’s dedication to fostering scientific research and innovation.
“India is witnessing the dawn of a bio-revolution, which will be as transformative for the country as the IT revolution was for the West,” Dr. Singh stated.
He further assured that India is not just keeping pace with the global biotechnology revolution but is now leading it.
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