According to a government announcement on Friday, India’s bioeconomy has grown significantly over the past ten years, rising from $10 billion in 2014 to $165.7 billion in 2024.
Union Minister Dr Jitendra Singh shared the update while speaking at the BIRAC Foundation Day event in New Delhi, highlighting the government’s focus on biotechnology as a key growth sector.
Quoting the ‘IBER 2025’ report, Dr Singh noted, “In just 10 years, India’s bio-economy has expanded from a modest $10 billion to $165.7 billion, far surpassing our initial target of $150 billion by 2025.”
The report notes that biotechnology now contributes 4.25% to India’s GDP.
Over the last four years, the sector has maintained a compound annual growth rate (CAGR) of 17.9%, underlining India’s emergence as a major biotech hub.
BioSaarthi: A Global Mentorship Program For Startups
During the event, Dr Singh introduced BioSaarthi – a global mentorship program tailored for biotech startups.
The six-month program will pair startups with experienced mentors, offering structured and personalized guidance to help new biotech ventures grow.
He said the initiative will boost innovation, encourage collaboration between academia and industry, and help Indian startups tap into global opportunities.
BioSaarthi will also bring in global mentors, particularly professionals from the Indian diaspora, who will contribute their expertise voluntarily.
Dr Singh further mentioned the government’s approval of the BIO-E3 Policy – Biotechnology for Economy, Employment, and Environment – aimed at speeding up research, innovation, and entrepreneurship in the field.
He added that Assam has become the first state to adopt the BIO-E3 framework, paving the way for its national rollout. India’s biotech startup count has also surged – from just 50 in 2014 to over 10,075 in 2024.
The country’s investment in research and development has also seen a sharp rise, with GERD increasing from Rs 60,196 crore in 2013–14 to Rs 1,27,381 crore in 2024.
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