India Sets $300 Billion Bioeconomy Target by 2030, Fueling ‘Make in India’ Momentum

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India’s biotechnology sector is poised for a transformative leap, with the government setting an ambitious target to grow the bioeconomy to USD 300 billion by 2030. This marks a nearly twofold increase from its current valuation of USD 165.7 billion in 2024, reflecting the sector’s rapid evolution and strategic importance to national development.

Key highlights of the bioeconomy roadmap

India’s bioeconomy has grown 16fold over the past decade, contributing 4.25% to GDP with a CAGR of 17.9%
The BioE3 Policy (Biotechnology for Economy, Environment, and Employment), approved in August 2024, underpins this growth with a focus on regenerative biomanufacturing and circular economy models
Over 11,000 biotech startups now operate in India, up from just 50 a decade ago

Strategic sectors driving growth

Biopharma: India ranks third globally in pharmaceutical production by volume and leads in vaccine manufacturing
Bioindustrial: Expansion into smart proteins, biobased chemicals, and carbon capture technologies
Bioagriculture: Innovations include climateresilient crops, genome editing, and ecofriendly pest control
Bioenergy: Ethanol blending rose from 1.53% in 2014 to 15% in 2024, with a 20% target by 2025

Policy and infrastructure support

National Biopharma Mission and Genome India Programme are catalyzing R&D and commercialization
Biomanufacturing hubs, biofoundry clusters, and bioAI centers are being established to bridge labtomarket gaps
The initiative aligns with India’s netzero goals and aims to generate employment in TierII and TierIII cities

Sources: Ministry of Science & Technology, Deccan Herald, ABLE India, WIPO, 5 Dariya News.