India’s Bioeconomy Grows To $165.7 Billion In 2024; Sets $300 Billion Target By 2030

India has emerged as one of the fastest-growing bioeconomies, expanding from $10 billion in 2014 to $165.7 billion in 2024. The country now aims to reach $300 billion by 2030.

The growth is driven by biotechnology, agricultural innovation, biomanufacturing, and healthcare.

Official figures show that India’s bioeconomy is led by BioIndustrial (47 per cent), followed by BioPharma (35 per cent), BioResearch (9 per cent), and BioAgri (8 per cent). The sector has become a cornerstone of sustainable growth and innovation.

Vaccine Leadership Grows Stronger

India achieved significant biotech milestones in 2025. It consolidated its position as a top vaccine producer.

According to the WHO Global Vaccine Market Report, the Serum Institute of India’s global market share, excluding Covid-19 vaccines, rose from 19 per cent in 2021 to 24 per cent in 2023. This increase came from higher output of pneumococcal conjugate, measles-rubella, and tetanus-diphtheria vaccines.

The global vaccine market remains highly concentrated, with 10 manufacturers supplying over 80 per cent of vaccines. Three Indian firms – Serum Institute, Bharat Biotech, and Biological E – are among them.

Indian companies supplied 40 per cent of WHO’s vaccine purchases, with a large share used within India. About 20 per cent of vaccine exports went to the WHO African Region.

Ethanol Blending Boosts Sustainability

India also achieved 20 per cent ethanol blending (E20) in petrol in 2025, five years ahead of target. This marks a sharp rise from 1.5 per cent in 2014. The programme has improved farmer incomes, eliminated sugarcane arrears, and supported maize cultivation.

Between 2014–15 and June 2025, farmers received Rs 1,21,000 crore for ethanol feedstock.

At 20 per cent blending, farmers are expected to receive Rs 40,000 crore this year. Forex savings are likely to reach Rs 43,000 crore.

Till July 2025, ethanol blending substituted 245 lakh metric tonnes of crude oil and saved Rs 1,44,087 crore in foreign exchange, strengthening energy security.

The Union Cabinet approved the BioE3 Policy in August 2024. The policy focuses on high-performance biomanufacturing and promotes green growth through regenerative practices.

Experts say the bioeconomy will help mitigate climate change by cutting greenhouse gas emissions, improving farming methods, restoring forests, and promoting recycling.

By integrating energy, agriculture, and sustainability, India’s bioeconomy is shaping a cleaner and more resource-efficient future.

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